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Zoe takes out a $5,155 loan at a rate of 3.7/8% per year, compounded annually. She does not plan to start paying back the loan for 3.5 years. Which of the following is the closest to the total amount she
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Zoe takes out a $5,155 loan at a rate of

3.7/8%
per year, compounded annually. She does not plan to start paying back the loan for 3.5 years. Which of the following is the closest to the total amount she owes after 3.5 years?

User Thusitha Sumanadasa
by
3.2k points

1 Answer

4 votes

Answer:

5,888.67

Explanation:

User PHRYTE
by
3.7k points
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