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Suppose that a loan of $2000 is given at an interest rate of 3% compounded each year.
Assume that no payments are made on the loan.
Follow the instructions below. Do not do any rounding.
(a) Find the amount owed at the end of 1 year.
$
(b) Find the amount owed at the end of 2 years.
$

Suppose that a loan of 2000 is given at an interest rate of 3 compounded each year Assume that no payments are made on the loan Follow the instructions below Do class=

Respuesta :

Answer:

 $2121.80.

Step-by-step explanation:

(a) Amount owed at the end of 1 year: $2060

(b) Amount owed at the end of 2 years: $61.80

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