document.write( "Question 394760: . Find the amount owing on a loan of $7400 at the end of 3 years, with interest at 10.9%/annum, compounded monthly.\r
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Algebra.Com's Answer #280131 by ewatrrr(24785) $\"\"$ $\"About$

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document.write( "Hi
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document.write( "Note: A= p(1-r/n) ^nt
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document.write( "amount owing on a loan of 7400,after 3 years: t = 3
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document.write( "with annual interest=0.109 compounded monthly: n =12 r/n = .009 
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document.write( "amount owing =7400*(1-0.109/12)^(12*3)= $5328.05
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