cheyboo6
cheyboo6 cheyboo6
  • 25-02-2017
  • Mathematics
contestada

What is the total compound interest of a loan for $5,000 with an annual interest rate of 8 percent at the end of a two-year period?
a.800
b. 832
c.432
d.400

Respuesta :

TakeItHome
TakeItHome TakeItHome
  • 25-02-2017
It's D because 5x8 = 40 and look at the extra zeros
Answer Link
Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 25-02-2017
Fv=5000(1+0.08)^2=5,832
Interest earned=5832-5000=832
Answer Link

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