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fronique fronique
  • 04-02-2017
  • Mathematics
Answered

Nguyen takes his money out of his account after 15 years and loans it to his sister at a 4% interest rate for 2 years. Use your answer to exercise 7 to find out how much Nguyen's sister owes him no. 7 answer is $4,138.55

Verified Answer :

christinann062
christinann062 christinann062
  • 04-02-2017

im assuming $4,138.55 is the amount Nguyen had in his account?

with that assumption Nguyen's sister will own him $4,469.63 

because 4138.55 x 4% x 2 = 331.08

4138.55 + 331.08 = 4,469.63


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