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What is the total amount Andrews bank will receive after lending him $8,000 for 4 years at an interest rate of 6% compounded annually?

What is the total amount Andrews bank will receive after lending him $8,000 for 4 years at an interest rate of 6% compounded annually?
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what is the total amount Andrews bank will receive after lending him $8,000 for 4 years at an interest rate of 6% compounded annually?

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User Rmhartog
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1 Answer

3 votes
I believe the interest payment will be $5096.75 and total amount would be $37096.75
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User Laryssa
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