What is the total amount that matthew's bank will receive after lending him $8,000 for four years at an interest rate of 6 percent, compounded annually?

Total amount that Matthew's bank will receive is $10099.81.

Step-by-step explanation:

We need to find the amount Matthew's bank will receive after lending him $8,000 for four years at an interest rate of 6 percent, compounded annually.

The formula for compound interest is:

Where A = future value

P= Principal Amount

r = interest rate

and n= time

So in the question we are given:

P= $8000

r = 6% or 0.06

t = 4 (since 4 yeras compounded annually)

A= 8000*(1+0.06)^4

A= 8000*(1.06)^4

A= 10099.81

So, total amount that Matthew's bank will receive is $10099.81.

false

step-by-step explanation:

4y - 6 + 4y^2 - 9

before simplifying this contains 4 terms

after simplifying

4y -15 + 4y^2

it contains 3 terms

distance covered by pamela in 9 l of fuel = 99km

let us apply unitary method here.

distance covered by pamela in 1 l of fuel =99/9 =11 km

now let us find distance covered by pamela if she has 12 l of fuel.

distance covered in 12 l = distance covered in 1 l of fuel * 12

we know that distance covered by here in 1 l is 11 km.

so distance covered in 12 l of fuel = 11*12 = 132 km.