Benji took out a $10,000 loan at a 13% interest rate. Benji will not make a payment for the next 3 years. How much will be owed in 3 years with monthly compounding? Round your answer to the nearest cent.

Mboy asked Apr 15, 2022

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Mboy asked Apr 15, 2022

by Mboy

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27 votes

Answer:

Plug into calc

Explanation:

A= P(1+r/n)^nt

A= 10000(1+.13/12)^12*3

Ginu Jacob answered Apr 19, 2022

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