anonymous
  • anonymous
total amount = P (1 + i)t 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? $8,103.38 $8,114.92 $8,358.37
Mathematics
schrodinger
  • schrodinger
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niahloves
  • niahloves
FV = final value [answer] PV = present value [$7000] i = interest rate [5% or 0.05] n = number of years [ 3 years] can you plug in the numbers into the equation and solve?
anonymous
  • anonymous
no
niahloves
  • niahloves
ok

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anonymous
  • anonymous
can you solve it for me please

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