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23-10-2020
Mathematics

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A college student takes out a $7,500 loan from a bank. What will the balance of the loan be after one year (assuming the student has not made any payments yet)...

a. if the bank charges 3.8% interest each year? $

b. if the bank charges 5.3% interest each year? $

Respuesta :

7hunrg3u3w 7hunrg3u3w

23-10-2020

Answer: a. $7790
b. $7908
Step-by-step explanation:
A2=A1(e^kt)
A2=7500(e^(.038)(1)=7790
A2=7500(e^(.053)(1)=7908

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