8.1k views
1 vote
Your great aunt sally loans you $5000 for three years and asks that you repay it with annually compounding interest at the rate of 8% per year. how much do you repay her after three years?

1 Answer

3 votes
$1,875
5,000÷8×3=1,875
User Yuri Heupa
by
8.4k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.