A principal amount of $3000 is invested for 3 years at 4% compounded semi-annually. Use the compound interest formula to determi
ne how much interest was earned on the investment.
1 answer:
The $378.49 was earned on the investment if the principal amount of $3000 is invested for 3 years at 4% compounded semi-annually.
<h3>What is compound interest?</h3>It is defined as the interest on the principal value or deposit and the interest which is gained on the principal value in the previous year.
We can calculate the compound interest using the below formula:
Where A = Final amount
P = Principal amount
r = annual rate of interest
n = how many times interest is compounded per year
t = How long the money is deposited or borrowed (in years)
Here,
P = $3000
r = 4% = 0.04
n = 2
t = 3 years
After plugging all the values in the formula:
After solving:
A = $3,378.49
I = A - P = 3,378.49 - 3000 = $378.49
Thus, the $378.49 was earned on the investment if the principal amount of $3000 is invested for 3 years at 4% compounded semi-annually.
Learn more about the compound interest here:
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Answer:
1.) 16.5
2.) 24.2 ft
3.) 10.8 ft
Step-by-step explanation:
1.) So first you need to use Heron's formula
S = (A + B + C)/2
So
S = (17 + 17 + 8)/2
S = 21
Now
Area =
So
So the Area is equal to 66.1
Now to find the height we use the Area of the triangle formula
A = 1/2 B*H
66.1 = 1/2(8) * H
66.1 = 4H
H = 16.525
So the height of the triangle is 16.5 units tall
2.) For this question you just use the Pythagorean theorem.
a² + b² = c²
So 22² + 8² = c²
484 + 64 = c²
548 = c²
= c
c = 24.1660919472 ft
So the length of the wire is 24.2 ft long
3.) Again this is the Pythagorean theorem.
a² + b² = c²
So 10² + 4² = c²
100 + 16 = c²
116 = c²
= c
c = 10.7703296143 ft
So the length of the banner is 10.8 ft long