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Mathematics

Answered

Eli has a loan of $3500.
This loan charges 5% interest
compounded annually. What is the
amount of interest that Eli will be
charged on this loan at the end of
four years?
(Round to the nearest cent)

Eli Has A Loan Of 3500 This Loan Charges 5 Interest Compounded Annually What Is The Amount Of Interest That Eli Will Be Charged On This Loan At The End Of Four class=

Answer :

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Answer: 700

Explanation:
3,500 x 5 over 100 = 175
175 x 4 = 700

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