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PLEASEEEE HELPPP MEEE Calculate the compound interest on a 12-month loan of $5,000 with a monthly interest rate of 3%.

PLEASEEEE HELPPP MEEE Calculate the compound interest on a 12-month loan of $5,000 with a monthly interest rate of 3%.
asked 97.1k views
16 votes
PLEASEEEE HELPPP MEEE

Calculate the compound interest on a 12-month loan of $5,000 with a
monthly interest rate of 3%.

asked
User Curtis Crewe
by
7.9k points

1 Answer

11 votes

Answer:

12.50 dollars per month

Explanation:

answered
User Bojan Vukasovic
by
8.6k points
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