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OpenStudy (anonymous):
Wallace took out a $5,000 loan for six years. He is being charged 4 percent interest, compounded annually. Calculate the total amount he will pay.
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OpenStudy (.whitedragon.):
u take a calculater and multiply 5,000 x 4% and multiply the product of that times 6 and add the product of that to 5,000
OpenStudy (.whitedragon.):
so what do u think it is ?
OpenStudy (amistre64):
White just described SIMPLE interest ... you want compounding interest
OpenStudy (anonymous):
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