Ask Question
15 May, 18:48

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?

+5
Answers (1)
  1. 15 May, 18:50
    0
    Take you amount and add 1 with the interest in brackets. close the brackets and square your year, then calculate.

    formula:

    7000 (1+5%) multiplied by the year

    =8103.38
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “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, ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers