Answer:
Total amount that Matthew's bank will receive is $10099.81.
Step-by-step explanation:
We need to find the amount Matthew's bank will receive after lending him $8,000 for four years at an interest rate of 6 percent, compounded annually.
The formula for compound interest is:
Where A = future value
P= Principal Amount
r = interest rate
and n= time
So in the question we are given:
P= $8000
r = 6% or 0.06
t = 4 (since 4 yeras compounded annually)
A= 8000*(1+0.06)^4
A= 8000*(1.06)^4
A= 10099.81
So, total amount that Matthew's bank will receive is $10099.81.
Answer:
i don't know, i don't speak Spanish lol
The product of 60 and 66 is 3960 because the product is just another way to say multiply so you just multiply the both number and you get your answer
C 10,628 because 400 times offer price (23.89) = $9,556, 400 times (50.46)= $20,184. $20,184-$9,556= $10,628profit.