Register
You apply for a loan that has an interest rate of 5%, The principal on the loan is $8000 dollars, and it's compounded continuously. How much will you have to pay in 4 years? a. $8900 b. $9771.22 c. $11,
140k views
23 votes
You apply for a loan that has an interest rate of 5%, The principal on

the loan is $8000 dollars, and it's compounded continuously. How
much will you have to pay in 4 years?
a. $8900
b. $9771.22
c. $11,893.31
d. $9652.87

User Katmanco
by
6.2k points

1 Answer

1 vote

5%(8000)=400

400*4=1600

8000+1600=9600

the closest answer is D 9652.87

User Malcoauri
by
7.0k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

7.6m questions

10.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!