Jenny borrowed $500 for five years at 4 percent interest, compounded annually. What is the total amount she will have paid when she pays off the loan?

total amount = P (1 + i)t

$608.33

$729.99

$765.77

Question

Jenny borrowed $500 for five years at 4 percent interest, compounded annually. What is the total amount she will have paid when she pays off the loan? 

total amount = P (1 + i)t



$608.33



$729.99



$765.77

caseysorensen · Answer

ill medal and fan if you help me plz

anonymous · Answer

Total amount=P (1 + i)t
P is the initial amount
i is the percent interest as a decimal
t is the time in years

So can you tell me what P, i, and t are?

caseysorensen · Answer

I really have no cule im really bad in math

anonymous · Answer

Read the problem, I identified the variables for you
If P is the initial amount, and the problem says, "Jenny borrowed $500"
what is the initial amount?

caseysorensen · Answer

i think 608.33