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27 November, 02:48

Jackson accumulated $9,000 in credit card debt. If the interest rate is 2.8% per year and he does not make any payments for 5 years, how much will he owe on his debt in 5 years by compounding continuously?

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  1. 27 November, 02:55
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    Answer: $10,260.00

    Step-by-step explanation:

    $9,000 + $9,000 (2.8%) (5)

    = $9,000 + $1,260

    = $10,260.00
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