Brent borrowed $3000 from his brother Dave. He agreed to repay the money at the end of

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Brent borrowed $3000 from his brother Dave. He agreed to repay the money at the end of 2 years, giving Dave the same amount of interest that he would have received if the money had been invested at 1.75% compounded quarterly. How much money did Brent repay his brother?


If necessary, round all dollar figures to the nearest cent and round percents to the nearest hundredth of a percent.

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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