Social Studies College

Select the correct answer.
total amount = P (1 + j°
Ryan has an eight-year loan for $6,000. He is being charged an interest rate of 5 percent, compounded annually. Calculate the total amount that he will pay.
TA.
$7.657.69
О в.
$8.815.97
O c.
$8,864.73

Select The Correct Answer.total Amount = P (1 + JRyan Has An Eight-year Loan For $6,000. He Is Being

Answers

Answer 1

The total amount that he will pay is $8,815.97 as we need to use  compound interest formula.

We can use the compound interest formula to compute the total amount Ryan will pay on his eight-year loan with a 5% annual interest rate:

Amount total = principal (1 + interest rate)amount of occasions

Given: $6,000 principal (P).

Rate of Interest (j) = 5% = 0.05 (in decimal notation)

The number of periods (n) equals eight years.

When we plug the values into the formula, we get:

The total amount is $6,000 (1 + 0.05)8.

Exponent calculation: (1 + 0.05)^8 = 1.05^8 = 1.4693

Total = $6,000 multiplied by 1.4693

The total amount is $8,815.80.

As a result, option B is the correct answer: $8,815.97.

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Related Questions

Which statement is most true about African American Power after the Civil War?
a. They remained enslaved
b. The majority of the freed slaves found jobs in the industrial sector of Southern Cities
c. Some were elected to local offices but soon power declined with Reconstruction strategies changing under Andrew Johnson d. African Americans were highly regarded by the plantation owners and given land​

Answers

The statement that is most true about African American Power after the Civil War is that  some were elected to local offices but soon power declined with Reconstruction strategies changing under Andrew Johnson. (Option C).

How was African American Power after the Civil War?

Although the 13th Amendment of 1865 officially abolished slavery, African Americans encountered numerous hurdles in their pursuit of parity and influence during the aftermath of the Civil War. During the era of Reconstruction, a few individuals were able to achieve positions of political influence. However, the political atmosphere underwent a significant transformation following the 1865 presidential election of Andrew Johnson.

Johnson's Reconstruction policies were characterized by a predilection for upholding white supremacy and curtailing the civil liberties and prospects of African Americans. The aforementioned phenomenon precipitated a concomitant decrease in the political clout held by individuals of African American descent, thereby ushering in a proliferation of prejudiced laws and discriminatory societal measures like Jim Crow segregation.

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The European Union was created to Strengthen The Financial Outcomes of The Countries of Europe. Below is a list of reasons that the EU formed. Please circle the ONE that is not accurate.

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More Choice
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Emphasize European Products
Freed Trade Privileges​

Answers

The EU was established to promote economic cooperation and integration, political stability, and peace among member states, not military superiority.

The European Union was not created with the goal of achieving military superiority.

Rather, it was established as an economic and political partnership among European countries with the aim of fostering economic cooperation and integration, increasing political stability, and promoting peace among member states.

Some of the ways in which the EU seeks to achieve these goals include creating a common currency (the Euro), enhancing the global competitiveness of European businesses, increasing consumer choice, promoting free trade, and supporting European products.

The EU also works to promote social and environmental policies and protect the rights of its citizens. While the EU has faced various challenges over the years, it continues to play an important role in shaping the economic and political landscape of Europe.

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3. Why did cities expand so rapidly during the Gilded Age? Your response should include at least two
reasons why cities grew so rapidly during this era. (4 points)

Answers

Cities expanded rapidly during the Gilded Age (1870s-1900s) for several reasons:

IndustrializationImmigrationTechnological advancements

What is the  Gilded Age?

One of the most reasons for the development of cities was the Mechanical Transformation, which started in England toward the center of the eighteenth century and after that spread to the Joined together States and other parts of Europe. The Technological Transformation contributed to the rise of industrial facilities, making a request for specialists in urban areas.

So, Cities developed since Technological production lines required expansive workforces and laborers and their families required places to live close their jobs.

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