Answer:
S=5000(1+(0.05)(8)).
Step-by-step explanation:
The loan is 5000, the rate is 5% and years are 8. So the amount is 7000. To find amount we use formula, S=P(1+ni). P is 5000 which is a loan. N is a number of years and i is the rate of interest. So by putting values in the formula, S=5000(1+(0.05)(8)).
