Tom Bond borrowed $6800 at 5 ½% for three years compound
Tom Bond borrowed $6800 at 5 ½% for three years compound
Tom Bond borrowed $6800 at 5 ½% for three years compound annually. What is the compound amount of the loan and how much interest will he pay on the loan?
Compound amount $_____ Compound interest $_____ (Round to the nearest cent as needed)
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