Ask Question
29 November, 05:16

You gave your friend a short term 2 year loan of $43000 at 3% compounded annually. What will be your total return?

+1
Answers (1)
  1. 29 November, 07:57
    0
    Total Return = $ 45,618.7

    Explanation:

    A = P (1+r) ⁺

    A = amount, P = Principla, r = Rate, t = time

    A = $ 43000 (1+3%) ²

    A = $ 43000 (1.03) ²

    A = $ 43000 (1.0609)

    A = $ 45, 618.7
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You gave your friend a short term 2 year loan of $43000 at 3% compounded annually. What will be your total return? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers