karinaS16 karinaS16

06-05-2022
Mathematics

contestada

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

Respuesta :

favourogbonna favourogbonna

09-05-2022

5%(8000)=400

400*4=1600

8000+1600=9600

the closest answer is D 9652.87

Answer Link

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