Solved

A Man Borrowed $3000 at 10% Interest Compounded Annually

Question 252

Multiple Choice

A man borrowed $3000 at 10% interest compounded annually. If he paid off the loan in full at the end of 4 years, how much did he pay? Round your answer to the nearest cent.


A) $4200.00
B) $4392.30
C) $3300.00
D) $1392.30

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q247: A new firm loses $3600 in its

Q248: Find the sum of the series,

Q249: Evaluate the derivative.<br>- <span class="ql-formula" data-value="f

Q250: Draw the graph of the equation.<br>-

Q251: Draw the graph of the equation.<br>-

Q253: Draw the graph of the equation.<br>-

Q254: Evaluate the expression.<br>- <span class="ql-formula" data-value="\frac

Q255: Write four additional terms of the

Q256: A pendulum bob swings 6.0 cm

Q257: Calculus can be used to find