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A bank agrees to lend Tommy $6,500 to fund the purchase of a new car. The amount (plus interest) is repayable in five years, and the interest rate is 7% each year. What is the total amount that must be
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A bank agrees to lend Tommy $6,500 to fund the purchase of a new car. The amount (plus interest) is repayable in five years, and the interest rate is 7% each year. What is the total amount that must be repaid?

User Dsb
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8.3k points

1 Answer

3 votes

Answer:

8775

Explanation:

User Sarang Pal
by
7.6k points
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