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Marco decides to take out a $4,000 student loan during his first year in college. If he is charged 10% interest that is compounded annually, how much will the total loan amount equal in four years when he graduates?

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bexwhite2610

Answer:

100+10 = 110

110/100=1.1

4000 X 1.1^4 = 5856.4

$5856.40

Answer: $5856.40

100+10 = 110

110/100=1.1

4000 X 1.1^4 = 5856.4

$5856.40

Step-by-step explanation:

110/100=1.1

4000 X 1.1^4 = 5856.4

Answer: $5856.40

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