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anonymous

  • one year ago

HELP What is the total amount that First Consumer Bank will receive after lending Jane $7,000 for three years at an interest rate of 5 percent, compounded annually? a)$8,103.38 b)$8,114.92 c)$8,358.37

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  1. amistre64
    • one year ago
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    the question seems a bit vague to me. how does the loan get paid off? monthly payments? or just a total payment at the end?

  2. amistre64
    • one year ago
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    well, monthly payments dont give me an option result ... so im assuming they want a one lump sum

  3. anonymous
    • one year ago
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    I'm not sure. This is all it says.

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