Lily provider a loan of $2500 to David that had an annual interest rate of 4.6%. Find the balance after 5 years if itcompounded yearly

The balanced amount is $3130.25.

Step-by-step explanation:

Given : Lily provider a loan of $2500 to David that had an annual interest rate of 4.6%.

To find : The balance after 5 years if it compounded yearly ?

Solution :

Using compound interest formula,

Where, P=$2500 is the principal

r=4.6%=0.046 is the interest rate

t=5 years

Substitute the values,

Therefore, the balanced amount is $3130.25.

ci

step-by-step explanation:

i dont know if you cant find a way its best to actually add all of them start from 105 tho

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