Math
posted by Queen .
Anna Cavanaugh loaned her friend Jason 1,000 for 6 months at 6% simple interest. what is the future value of the loan and how much finance charge will Jason pay?

FV=PV(1+i)power n
FV=1000(1+.06)power 6)
=1000(1.4185)
=14185
Respond to this Question
Similar Questions

Business Math
Terry has an 18month installment loan for $1,700 at 12% annual interest. Interest is compunded using the Rule of 78. Terry decides to pay back the loan at the end of the first month. 1. What is the total finance charge on the loan? 
Algebra
Micheal loaned two of his roommates a total of $4,000. He charged his first roommate 3% interest and his second roommate 4% interest. After six months he collected a total of $332 in interest. How much did he loan each friend? 
Math
1. Jacksonville Technical College received $3,445,553 in state aid on September 15 for the fall academic semester. The vicepresident for finance decided to invest $2,000,000 in a 2month investment that pays 11.5% simple interest. … 
Algebra 2
Jason loves to download music. Downloads R Us sells songs only in packages of three, and it charges $2.00 for each package of three songs. jason's favorite group just released their Greatest Hits CD, which has 17 songs on it. Jason … 
math
you borrow $1200 from a bank that bank charges 9.5% simple annual interest. after 15 months you pay back the loan. how much interest do you pay on the loan? 
Math
Montel loaned $6800 to a friend for 13 months at an annual rate of 7.7% simple interest. How much interest did the borrower owe? 
Survey of Mathematics
On January 5, Ebony Davis borrowed $6,500 on a simple interest loan from a lending institution to finance her catering business. She borrows the money at a rate of 8.5% with a term ending on December 9. a. Calculate Ebony's interest … 
math
Belle had the choice of taking out a four year car loan at 8.5% simple interest or a Five year loan at 7.75% simple interest. If she borrows $15,000, how much interest would she pay for each loan? 
Algebra 2
Jason loves to download music. Downloads R Us sells songs only in packages of three, and it charges $2.00 for each package of three songs. Jason's favorite group just released their greatest hits CD, which has 17 songs on it. Jason … 
Math
Jason received an invoice for $5,000, and the invoice was dated on August 26 with terms of 2/10, n/45 EOM. Please answer the following questions: (1) How much did Jason owe if the bill is paid by September 26?