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2 years ago

What is the compound interest of 10400 at 12.7% for 4 year

Mathematics

1 answer:

Naddik [55]2 years ago

8 0

The Compound Interest of 10400 at 12.7% for 4 years is 6378.

The principal amount is given as 10400.

The rate of interest is given as 12.7%.

The time period to be calculated is given as 4 years.

The compound interest for the given above is to be calculated.

<h3>What is compound interest?</h3>

Compound interest is the interest that we earn both on the principal amount and the interest we earn.

The formula used to calculate compound interest is:

$P [ (1 + \frac{R}{100} )^n - 1 ]$

Where P = principal amount, R = rate of interest, and n = number of years.

We have,

P = 10400

R = 12.7%

n = 4 years

Compound interest:

$P [ (1 + \frac{R}{100} )^n - 1 ]\\\\10400 [ (1 + \frac{12.7}{100} )^4 - 1 ]$

Now,

10400 [ ( 1 + 0.12.7 )^2 - 1 ]

10400 [ 1.127^4 - 1 ]

10400 [ 1.61322 - 1 ]

10400 x 0.6132

6377.56

Rounding to the nearest whole number.

We have,

Compound Interest = 6378.

Thus the Compound Interest of 10400 at 12.7% for 4 years is 6378.

Learn more about Compound Interest here:

brainly.com/question/13155407

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The evaluation among negative one and six tenths repeating and poor 5 thirds using symbols <, >, or = is negative 5 thirds is greater than negative one and six tenths repeating. alternative D

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more than >

much less than <

Equal to =

Greater than or equal to ≥

Less than or equal to ≤

negative one and six tenths repeating

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Inequality refers back to the phenomenon of unequal and/or unjust distribution of assets and possibilities amongst members of a given society. The term inequality can also suggest different things to one-of-a-kind humans and in extraordinary contexts.

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