einalem5665 einalem5665

25-03-2021
Mathematics

contestada

Dylan takes out a bank loan of $11,500 at 3.8% interest compounded annually. How much interest, in dollars, will he owe after 3 years? Round your answer to the nearest hundredth.

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CoolMansA CoolMansA

25-03-2021

Answer:

3.8% of 11,500 is 437 so then we would multiply 437 by 3 and get $1,311 then round and get $1,300, I don't if this is right.

Step-by-step explanation:

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levispencer1437 levispencer1437

25-03-2021

Answer:

total interest paid would be 686 dollars

Step-by-step explanation:

i used a loan calculator

Answer Link

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