Question

total amount = P (1 + i)t

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.

$6,326.60
$6,312.38
$6,077.53

Answer 1

A

Answer 2

i gtg bye

Answer 3

jay u mind checking my work

Answer 4

A=P(1+r/n)^nt A=5000(1+.04/1)^1*6 A=5000(1.04)^6 A=5000(1.265319018)
A=6,326.60