Question

Will give brainliest :,)

Answer 1

How much would the investment be worth?

As the function for interest is already given to us, also,

The principal amount, P = $7,000

The rate of Interest, r = 3%

Time period, t = 5 years

Compounded semiannually, n = 2

Substitute the values,

Hence, the worth of the investment after 5 years at an interest of 3% is $8,123.79.

Answer 2

Answer:

Hello! Let's find the value of Janel's investment after 8 years. In the formula we're using, P will represent the principal amount, r will represent the rate of interest, and t will represent time. Since the interest is compounded semi-annually (twice a year), n = 2. Finally, A represents the value of the investment after t (8 years).

Substitute these values into the formula:

$A = P(1 + \frac{r}{n} )^{nt}$

$A = 7000(1+\frac{0.03}{2} )^{2*8}$

Simplify the equation:

$A = 8882.89883357$

Round this number to the nearest hundredth:

$A = 8882.90$

The correct answer is B. 8,882.90.

I hope this helps you! Have a great day. :)