What is the total amount that matthew’s bank will receive after lending him $8,000 for four years at an interest rate of 6 percent, compounded annually?

First year the interest will be 6% x 8000= $480
second year the interest will be 6% x 8480= $508.80
third year the interest will be 6% x 8988.80=$539. 33
fourth year the interest will be 6% x 9528.13=$571. 69
the total amount that matthew's bank will receive is 8,000+480+508.80+539.33+571.69=$10,099.82

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