Mathematics, 05.12.2019 05:31, michaelwilliams1356

Abank offers a loan for $10,000 which earns 4.25% interest compounded annually. what is the correct formula to determine how much someone would owe the bank if they took out this $10,000 loan for 5 years?

a = 10,000(1 + 5)^4.25

a = 10,000(1 + 0.0425)^5

a = 10,000(1 - 0.0425)^5

a = 10,000(0.0425)(5)

Answers: 3

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