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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.
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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.
(please help)

User Carlo Moretti
by
6.7k points

1 Answer

5 votes

Answer:

Plug into calc

Explanation:

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

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

User Dorukhan Arslan
by
8.5k points
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