ellakuks ellakuks

13-11-2022
Mathematics

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Suppose Tom borrows $4000 at an interest rate of 3% compounded each year.
Assume that no payments are made on the loan.
Follow the instructions below. Do not do any rounding.
(a) Find the amount owed at the end of 1 year.
(b) Find the amount owed at the end of 2 years.

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