Answer:
$745,460.8
Step-by-step explanation:
2.8/100 × 3827 = $107.16
monthly = 1/12
[tex]p = \frac{100 \times i}{rt} = \frac{100 \times 107.16}{2.8 \times \frac{1}{12} } = \frac{10716}{0.23} \\ = 46591.3[/tex]
$46,591.3 in 1year
16 years; $46,591.3 × 16 = $745,460.8
