Question

total amount = P (1 + i)t

What is the total amount that First Consumer Bank will receive after lending Jane $7,000 for three years at an interest rate of 5 percent, compounded annually? $8,103.38
$8,114.92
$8,358.37

Answer 1

@TylerJoseph

Answer 2

@SkyVoltage43

Answer 3

A

Answer 4

Tyler is correct. It would be A. :)

Answer 5

yep a

Answer 6

simple interest = P × r × t

Dave has a three–year college loan for $10,000. The lender charges a simple interest rate of 6 percent. How much interest will he have to pay?

Answer 7

1.If Dave has a three-year college loan for $10,000 and the lender charges a simple interest rate of 6 percent, Dave will have to pay $1,800 in interest. $10,000 principle at 6 percent annual interest rate is equal to a monthly interest payment of $50. 36 X $50 = $1,800.

Answer 8

total amount = P (1 + i)t

Ryan has an eight–year loan for $6,000. He is being charged an interest rate of 5 percent, compounded annually. Calculate the total amount that he will pay.

Brainly isn't working. sorry guys hahaha

Answer 9

Given:
Principal : $6,000
Interest Rate: 5%
Term : 8 years, compounded annually.

The term compounded annually is a hint that informs us to use the compounded interest formula instead of the simple interest formula.

Compounded interest formula is:

A = P(1 + r/n)^nt

where:
A = future value of loan or investment including the interest
P = principal
r = rate
n = the number of times the interest is compounded per year
t = the number of years the money is borrowed or invested

A = P (1 + r/n)^nt
A = 6,000 (1 + 0.05/1)¹ * ⁸
A = 6,000 (1.05)⁸
A = 6,000 (1.48)
A = 8,880

The total amount Ryan will pay after 8 years is $8,880.00

Answer 10

That isn't one of the options thoughh

Answer 11

$7,657.69
$8,815.97
$8,864.73

Answer 12

hmmm did i math wrong

Answer 13

its C my bad

Answer 14

I guessed.. and failed that test.

Answer 15

O-O