Suppose yoko borrows $3500 at an interest rate of 4% compounded each year find the amount owed at the end of 1 year

Amount owed at the end of 1 year is 3640

Given that yoko borrows $3500.

Rate of interest charged is 4% compounded each year

Need to determine amount owed at the end of 1 year.

In our case :

Borrowed Amount that is principal P = $3500

Rate of interest r = 4%

Duration = 1 year and as it is compounded yearly, number of times interest calculated in 1 year n = 1

Formula for Amount of compounded yearly is as follows:

Where "p" is the principal

"r" is the rate of interest

"n" is the number of years

Substituting the values in above formula we get

Hence amount owed at the end of 1 year is 3640

c. 6tan80

step-by-step explanation:

step-by-step explanation: hi!