Answer:
Compound interest
$34633.25
Step-by-step explanation:
Everything starts of at 100% and the rate of interest is 9.5% so we add them on=109.5%
Now we want this percentage as a decimal so we divide by 100 = 1.095 this our multiplier
Then get the original amount that you borrowed = 6000 times by the multipler=1.095 to the power of number of years so
6000 multipled by 1.095 to the power of 5
Giving me $34633.25
