unoTerry unoTerry
  • 11-05-2021
  • Mathematics
contestada

Suppose that $2000 is loaned at a rate of 9%, compounded quarterly. Assuming that no payments are made, find the amount owed after 10 years.
Do not round any intermediate computations, and round your answer to the nearest cent. Why isn’t my question popping up ?

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NevaehJade
NevaehJade NevaehJade
  • 11-05-2021

Answer:  $4,870.38 in 10 years

2000(1+.09/4)^4(10)

4870.377

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