transfergiecek6942 transfergiecek6942
  • 04-05-2021
  • Mathematics
contestada

Jen owes $75,000 to a lending agency. The debt grows with simple interest at a rate of 6% per year. How much will Jen owe in 5 years

Respuesta :

samuelonum1
samuelonum1 samuelonum1
  • 06-05-2021

Answer:

$100350

Step-by-step explanation:

Given data

Principal=  $75,000

Rate= 6%

Time= 5 years

The expression for the amount is

A=P(1+r)^t

Substitute

A=75000(1+0.06)^5

A=75000(1.06)^5

A=75000*1.338

A=$100350

Hence the amount is $100350

Answer Link

Otras preguntas

diameter = 8 cm circumference =
what is 300/2000 in the form of a fraction, decimal, and percent?
From a deck of 52 cards, two cards are radomly drawn without replacement. Which expression represents the probability of drawing two hearts? A. 2/52 B. 13/52· 1
Which statement is scientifically based? A).Mutations rarely occur. B).All mutations are harmful. C).Some mutations can be contagious, like infections. D).Mutat
15 is what percent of 165
Jenny spent 35 minutes doing research on the Internet. She finished at 7:10p.m. At which time did Jenny start her research?
put it into slope intercept form, m=3 passing (-2,5)
HELP PLEASE Which equation is graphed here? A. y-3=-2/3(x+1) B. y-4=-3/2(x+2) C. y-1=-3/2(x+3) D. y+1=-2/3(x+3)
A number was increased by 2% to £78.03 What was the number before this increase?
Which statement best describes the republican form of government that the Founding Fathers envisioned?.