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Suppose that a loan of $8000 is given at an interest rate of 16% compounded each year. Assume that no payments are made on the loan. Follow the instructions below. Do not do any…

Suppose that a loan of $8000 is given at an interest rate of 16% compounded each year. Assume that no payments are made on the loan. Follow the instructions below. Do not do any…
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Suppose that a loan of $8000 is given at an interest rate of 16% compounded each year.

Assume that no payments are made on the loan.
Follow the instructions below. Do not do any rounding ?

asked
User Tashana
by
7.7k points

1 Answer

5 votes

Answer:

9280

Explanation:

8000 x .16 + 8000

answered
User Abidibo
by
8.2k points
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