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Suppose that $1800 is borrowed for three years at an interest rate of 2% per year, compounded continuously. Find the amount owed, assuming no payments are made until the end.
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5 votes
Suppose that $1800 is borrowed for three years at an interest rate of 2% per year, compounded continuously. Find the amount owed, assuming no payments

are made until the end.

User Majordomo
by
5.2k points

1 Answer

5 votes

1908

Explanation:2% of 1800 is 36 36 x 3 is 108 + 1800 =1908

User Kingshuk Deb
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