Find the amount a college student owes at the end of 3 years if $6200 is loaned to her at a rate of 4% compounded monthly.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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Find the amount a college student owes at the end of 3 years if $6200 is loaned to her at a rate of 4% compounded monthly. 

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