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

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

User Reggie Pinkham
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2 Answers

1 vote

The answer Is a gain of 100 Bucks

User Martin Stannard
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8.4k points
4 votes
not sure if this is correct but maybe $520?
User Rwolst
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