asked 103k views
5 votes
Suppose that $2,000 is loaned at a rate of 17%, 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.

1 Answer

3 votes

Answer:

$2,000(1 + .17/4)¹⁰ = $3,032.43

answered
User Jobmo
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