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A loan of $25,475 is taken out at 4.6% interest, compounded annually. If no payments are made, after about how many years will the amount due reach $37,500? Round to the nearest…

A loan of $25,475 is taken out at 4.6% interest, compounded annually. If no payments are made, after about how many years will the amount due reach $37,500? Round to the nearest…
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1 vote
A loan of $25,475 is taken out at 4.6% interest, compounded annually. If no payments are

made, after about how many years will the amount due reach $37,500? Round to the
nearest year.

Please helpp

asked
User VRK
by
8.0k points

1 Answer

0 votes

Answer:

9 years

Explanation:

answered
User Nicolas Dudebout
by
8.0k points
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