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Today at 8:53 PM
Mathematics

Answered

If you borrow $2400 for four years at an annual interest rate for 6% how much will you pay all together

Answer :

Today at 8:58 PM

Answer:

$3029.94

Step-by-step explanation:

We can use the simple interest rate (appreciation) equation: A = P(1 + r)^t

Simply plug in our variables to find our answer:

A = 2400(1 + 0.06)^4

And we should get 3029.94 as our answer!

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