Claire wants to take out a small personal loan to renovate her kitchen. She borrows $3,000. Her loan has an annual compound interest rate of 15%. The loan compounds once each year. When you calculate Claire's debt, be sure to use the formula for annual compound interest. A = P (1+StartFraction r Over n EndFraction) nt If Claire does not make any payments, how much will she owe after ten years? $12,136.67 $3,481.24 $6,090.90 $3,232.74
Answers (2)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Claire wants to take out a small personal loan to renovate her kitchen. She borrows $3,000. Her loan has an annual compound interest rate ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Dar corporation is comparing two different capital structures: an all-equity plan (plan i) and a levered plan (plan ii). under plan i, the company would have 190,000 shares of stock outstanding.
Answers (1)
Find the mean, median, and mode of the data set. Round to the nearest tenth. 2, 10, 6, 9, 1, 15, 11, 10, 15, 13, 15
Answers (1)
LO 6.3How are costs allocated in an ABC system?
Answers (1)
If gdp (measured in billions of current dollars) is $5,465 and the sum of consumption, investment, and government purchases is $5,496, while exports equal $673, imports are:
Answers (1)
Why should you consider writing a "new" resume & cover letter for each job you're applying to?
Answers (2)
New Questions in Business
Sharp Focus Cameras is facing intense competitive pressure. Top marketing managers are looking for ways to cut costs. They are considering a plan to cut distribution costs by eliminating marketing intermediaries from the channel of distribution.
Answers (1)
Older adults who participated in 20 one-hour video game training sessions with the program lumosity showed reduction in their:
Answers (1)
The total of tools, equipment, machinery, and buildings used to produce goods and services is called supply. True or False
Answers (1)
What percentage of federal revenues is made up of corporate taxes
Answers (1)
F Rudy offers Oscar $200 for his laptop valued at $600 and Oscar agrees, a court will probably
Answers (1)