Answer: [tex]\$125,971.2[/tex]
Step-by-step explanation:
Given
Principal amount [tex]P=\$100,000[/tex]
Rate of interest [tex]r=8\%[/tex]
Time period [tex]t=3\ yr[/tex]
Amount in compound interest is given by
[tex]\Rightarrow A=P\left(1+r\%\right)^t\\\Rightarrow A=100,000(1+0.08)^3\\\Rightarrow A=\$125,971.2[/tex]
Thus, the amount accruing for loan is [tex]\$125,971.2[/tex]
