llm42982 llm42982

28-10-2019
Business

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find the future value of 10000 for 5 years if the annual interest rate is 8 percent. what would be the future value if the interest rate is a simple interest rate?

Respuesta :

fernandoalonsoc fernandoalonsoc

08-11-2019

Answer:

To find the simple interest, we multiply $10000 × 0.08 × 5 to get that: $4000 is the interest gained after 5 years.

The final capital or future value would be $14.000.

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