Claire wants to take out a small personal loan to renovate her kitchen. She borrows $3,000. Her loan has an annual compound interest rate of 15%. The loan compounds once each year. When you calculate Claire's debt, be sure to use the formula for annual compound interest. A = P (1+StartFraction r Over n EndFraction) nt If Claire does not make any payments, how much will she owe after ten years? $12,136.67 $3,481.24 $6,090.90 $3,232.74
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