pichardocynthia237
pichardocynthia237 pichardocynthia237
  • 19-04-2021
  • Mathematics
contestada

Erik took out a loan for $8400 for 6 years at a compound interest rate of 5.5%-
How much interest does Erik owe from the loan?
$11,582.28
$108,084.86
$2,772
$3,182.28

Respuesta :

samuelonum1
samuelonum1 samuelonum1
  • 24-04-2021

Answer:

$2772

Step-by-step explanation:

Given data

Principal= $8400

Rate= 5.5%

Time= 6 years

The expression for the simple interest on the loan is found using the expression below

SI= PRT/100

substitute

SI= 8400*5.5*6/100

SI= 277200/100

SI= $2772

Hence the simple interest is  $2772

Answer Link
hopecswanner
hopecswanner hopecswanner
  • 06-05-2021

Answer:The answer is actually 3,182.28

Step-by-step explanation:

Answer Link

Otras preguntas

ILL GIVE BRAINLIEST + 15 POINTS Match the term with the appropriate definition yo tú él nosotros ellos match each of them w one of these answers - estudias,
RibsomemRNA:Amino Acids:can anyone help me please!
Escoge la respuesta correcta. What country is a territory of the U. S. and doesn't require a passport for travel? Dominican Republic Mexico Puerto Rico Colombi
What is the remainder when the polynomial f(x)=3x^3-4x^2+2x+8 is divided by (x-5)
PLEASE HELP ASAP!!! CORRECT ANSWERS ONLY PLEASE!!What is the remainder when you divide 4x^3 - 5x^2 + 3x - 1 by x - 2?
a 10 kg animal is running at a rate of 3.0 m/s. What is the kinetic energy of the animal?
A person of Spanish and American Indian descent is referred to as: A.creole B.mulatto C.mestizo
The list below shows all of the possible outcomes for flipping four coins. HHHH HHHT HHTH HHTT HTHH HTHT HTTH HTTT THHH THHT THTH THTT TTHH TTHT TTTH TTTT What
why wouldn't glass be considered the mineral
Buddha's teachings or divine law is?