Mathematics, 03.12.2020 16:30 maddy1276
Larry accumulated $3,000 in credit card debt. If the interest rate is 10% per year and he does not make any payments for 2 years, how much will he owe on this debt in 2 years for quarterly compounding? Round your answer to two decimal places.
Answers: 2
![A=P[1+\frac{r}{n} ]^{tn}](/tpl/images/0945/4834/7f05d.png)
![=3000[1+\frac{0.1}{4} ]^{2\times 4}](/tpl/images/0945/4834/75fb3.png)
![=3000[1+0.025]^8](/tpl/images/0945/4834/21454.png)
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Larry accumulated $3,000 in credit card debt. If the interest rate is 10% per year and he does not m...
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