Question

. A business owner receives a $5,000 loan with 13% interest, charged at the end of each year. Write an expression to represent the amount owed, in dollars, after two years of making no payments

Answer 1

Answer:

100x/100

Step-by-step explanation:

first year=let the loan be x

$x=100%

? =113

113x/100

second year the amount to gain interest is 113x/100

113x/100=100%

       ?=113%

113*113x/100=100/x

100/100x

Answer 2

Answer:

5000(1.13)^2

Step-by-step explanation: