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7 March, 15:50

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?

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  1. 7 March, 18:58
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    Take you amount and add 1 with the interest in brackets. close the brackets and square your year, then calculate.

    formula:

    7000 (1+5%) multiplied by the year

    =8103.38
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