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 $6312.40

Step-by-step explanation:

Since we have given that

Principal amount =$8000

Rate of interest = 6%

Time = 4 years

As we know the formula for " Compound Interest ":

where

A denotes Amount

P denote Principle

n denotes time

r denotes rate of interest

So, our equation becomes,

Hence, total amount that Matthew's bank will receive $6312.40.

is should be y = 5x

step-by-step explanation:

correct me if im wrong