Asked by Queen
Anna Cavanaugh loaned her friend Jason 1,000 for 6 months at 6% simple interest. what is the future value of the loan and how much finance charge will Jason pay?
Answers
Answered by
khan
FV=PV(1+i)power n
FV=1000(1+.06)power 6)
=1000(1.4185)
=14185
FV=1000(1+.06)power 6)
=1000(1.4185)
=14185
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