Ask Question
BusinessBusiness
22 February, 03:37

What is the total compound interest of a loan for $5000 with an annual interest rate of 8% at the end of a two-year period?

+5
Answers (1)
  1. 22 February, 04:12
    0
    = $832s

    Explanation:

    CI = 5000 * (1+8/100) ^2

    =5832 - 5000

    = $832s

    There is a difference between the CI and SI. For SI principal remains the same each year. However, when we deal with CI then the new principal is the starting principal plus the interest. And that is the difference between the two. Also, the formula hence for CI is:

    CI = P (1 + R/100) ^N - P

    SI = PRT/100
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “What is the total compound interest of a loan for $5000 with an annual interest rate of 8% at the end of a two-year period? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Suppose that a manufacturer can produce a part for $8.00 with a fixed cost of $6 comma 000. Alternately, the manufacturer could contract with a supplier in Asia to purchase the part at a cost of $10.00 , which includes transportation. a.
Answers (1)
Sheehan, Inc. provides the following income statement for 2017: Net Sales $240,000 Cost of Goods Sold 110,000 Gross Profit $130,000 Operating Expenses: Selling Expenses 45,000 Administrative Expenses 12,000 Total Operating Expenses 57,000 Operating
Answers (1)
A key reason most sole proprietorships remain relatively small is that: a. they have limited ability to raise funds needed to finance growth. b. the owners often disagree about the need to take on additional risk associated with growth. c.
Answers (1)
A business person invested $3600.00 in stock. when he sold the stock he made $30.00 in profit for each share of stock he purchased. if his total profit was $2400.00 how many shares of stock did he purchase?
Answers (1)
Lucy works in an office that has nonterritorial workspaces. this is new to her, and she would like to display good open office etiquette. what should she do?
Answers (1)
New Questions in Business
During the current year, Star County levied $3,000,000 in property taxes, 1.5% of which is expected to be uncollectible. During the year, the county collected $2,700,000 and wrote off $25,000 as uncollectible.
Answers (1)
Opportunity Market Company (OMC) and Pierce enter into a contract for Pierce to cut and trim the landscaping around OMC's building before a meeting of the company's sales staff.
Answers (1)
Which of the following is a characteristic associated with warehouse showrooms? a. Low inventory levels. b. Limited floor area. c. Several specialized services. d. High-cost buildings. e. Vertical merchandise displays.
Answers (1)
The main function of the Federal Reserve System is to: A. Control the money supply B. Set reserve requirements of banks C. Clear checks from member banks D. Serve as the fiscal agent for the Federal government
Answers (1)
Parole violators account for more than half of prison admissions in many states. a. True b. False
Answers (1)
Home » Business » What is the total compound interest of a loan for $5000 with an annual interest rate of 8% at the end of a two-year period?
Sign Up Forgot Password?