Jacobo borrows 500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5% How much will the total amount be that Jacob owes?

Jacobo borrows 500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5% How much will the total amount be that Jacob owes?

asked Aug 25, 2022 41.6k views

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