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A company currently owes $20,000 to a bank for a loan it took 3 years and 2 months ago. The interest rate charged on the
A company currently owes $20,000 to a bank for a loan it took 3 years and 2 months ago. The interest rate charged on the loan was 4% compounded monthly.
a. What was the original principal of the loan?
$0.00
Round to the nearest cent
b. What was the amount of interest charged on the loan?
$0.00
Round to the nearest cent
A company currently owes $20,000 to a bank for a loan it took 3 years and 2 months ago. The interest rate charged on the loan was 4% compounded monthly.
a. What was the original principal of the loan?
$0.00
Round to the nearest cent
b. What was the amount of interest charged on the loan?
$0.00
Round to the nearest cent
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