total amount = P (1 + i)t Wallace took out a $5,000 loan for six years. He is being charged 4 percent interest, compounded annua

Question

total amount = P (1 + i)t

Wallace took out a $5,000 loan for six years. He is being charged 4 percent interest, compounded annually. Calculate the total amount he will pay.

in progress 0
Eliza 3 weeks 2021-09-24T18:56:27+00:00 1 Answer 0

Answers ( )

    0
    2021-09-24T18:57:48+00:00

    Answer:

    36030000$

    Step-by-step explanation:

    I = PRT/100

    =5000×4/100×6

    =1200

    from total amount = P(1+i)t

    =5000(1+1200)6

    =5000(1201)6

    =5000(7206)

    =36030000

Leave an answer

45:7+7-4:2-5:5*4+35:2 =? ( )