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Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. The account balance after a period of 5 years will be $1.63634×10²⁰.
<h3>What is compound interest?</h3>Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. It's the outcome of reinvesting interest rather than paying it out so that interest is received on the principal plus previously collected interest in the next quarter.
A = final amount
P = initial principal balance
r = interest rate
n = number of times interest applied per time period
t = number of time periods elapsed
Given the principal amount is $12,385, the rate of interest is 7.5%, and the time period is daily. Therefore, the amount can be written as,
Hence, the account balance after a period of 5 years will be $1.63634×10²⁰.
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Answer:
see explanation
Step-by-step explanation:
Using the trigonometric identities
secx = , cosecx =
cotx = , tanx =
Consider the left side
secA cosecA - cotA
= ×
-
= -
=
= ( cancel sinA on numerator/ denominator )
=
= tanA = right side ⇒ proven
You can see that the term appears in both equations. In this cases, we can leverage this peculiarity and subtract the two equations to get rid of the repeated term. So, if we subtract the first equation from the second, we have
Now that we know the value of , we can substitute in any of the equation to deduce the value of
: if we use the first equation, for example, we have