Question

$2000 was borrowed for 4 years with an interest rate of 3% compounded annually. What is the total amount owed at the end of the 4 years.

Answer 1

Answer:

i dont know srry i am stuck also

Answer 2

Answer:

$251.02

 

Explanation:

I  =  P 0 r t

A  =  P 0  +  I  =  P0  +  P 0 r t  =  P 0 ( 1 + r t )

I is the interest

A is the end amount: principal plus interest

P 0  is the principal (starting amount)

r is the interest rate in decimal form

t is time