Question

Calculate the amount to be paid back after three years on a $3,000 credit card loan with an interest rate of 15% compounded yearly. (1 point)
Responses

$4,271.48
$4,271.48
$267,572.61
$267,572.61
$3,138.08
$3,138.08
$4,562.63

Answer 1

The correct answer is $4,271.48.