Answer:
$3941.57.
Step-by-step explanation:
Given,
Principal,P = $3,500
rate of interest,r = 2%
Time, n = 6 years
Now, the total amount Luca has to repay is:
[tex]A = P(1+\frac{r}{100})^n[/tex]
A is the total amount.
[tex]A = 3500\times (1+\frac{2}{100})^6\\A = $3941.57[/tex]
Hence, the total money he has to repay is $3941.57.
