Ask Question
20 September, 16:04

A college student takes out a $7500 loan from a bank. What will the balance of the loan be after one year (assuming the student has not made any payments yet)

a. if bank charges 3.8% interest each year?

+4
Answers (1)
  1. 20 September, 16:45
    +1
    The balance will be given by the equation

    loan amount times 1.038 = 7500 x 1.038 = $7,785
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A college student takes out a $7500 loan from a bank. What will the balance of the loan be after one year (assuming the student has not ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers