Calculate the amount to be paid back after two years on a $5,000 credit card loan with an interest rate of 20% compounded yearly.(1 point)
Responses
$8,042.19
$8,042.19 - no response given
$7,000
$7,000 - no response given
$5,204.88
$5,204.88 - incorrect
$7,200
1 answer
The correct answer is $7,200.