Solve the problem.Laura borrows $2500 at a rate of 10% compounded monthly. Find how much Laura owes at the end of 5 years.Use: A = Pntwhere:A = final amountP = $2500 (the amount borrowed)r = 10% = 0.1 (the annual rate of interest)n = 12 (the number of times interest is compounded each year)t = 5 (the duration of the loan in years)

A. $4524.60
B. $2605.92
C. $151,250.00
D. $4113.27


Answer: D

Mathematics

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