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Emani borrowed $2,000 from his bank. The loan will be compounded quarterly for 3.5 years at an 8% interest rate. The full amount to the nearest whole cent) he will owe to the bank (principal + interest)
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33 votes
33 votes
Emani borrowed $2,000 from his bank. The loan will be compounded quarterly for 3.5 years at an 8% interest rate. The full amount to the nearest

whole cent) he will owe to the bank (principal + interest) is:
Note: Use the formula: FV = P(1 + yt.

User Ben Butterworth
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1 Answer

22 votes
22 votes

Answer:$3,661.24.

Explanation:

User Zundi
by
2.8k points
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