What is the total amount that first consumer bank will receive after lending jane $7,000 for three years at an interest rate of 5 percent, compounded annually?

 $8103.375

Step-by-step explanation:

The compound amount after x years  is given by :-

, where p is the principal amount , r is the rate of interest .

Given: The principal amount = $7,000

The rate of interest per year = 5 % = 0.05

Time in years = 3

Then, the compound amount is given by :_

step-by-step explanation:

step-by-step explanation:

d would equal 12