A business owner receives a $5,000 loan with 13% interest, charged at the end of each year. Write an expression to represent the

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 the given number of years of making no payments:
a. after 1 year
b. after 2 years
c. after t years
Explain how to convince someone that your expression for t years is correct.

Kunduz · Accepted Answer

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