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1 year ago

Some Math i can’t helppp

Mathematics

1 answer:

mezya [45]1 year ago

7 0

Annually The amount after 10 years = $ 7247.295

quarterly compound after 10 years = $7393.5

Continuously interest =$7,419

Given:

P = the principal amount

r = rate of interest

t = time in years

n = number of times the amount is compounding.

Principal = $4500

time= 10 year

Rate = 5%

To find: The amount after 10 years.

The principal amount is, P = $4500

The rate of interest is, r = 5% =5/100 = 0.05.

The time in years is, t = 10.

Using the quarterly compound interest formula:

A = P (1 + r / 4)4 t

A= 4500(1+.05/4)40

A= 4500(4.05/4)40

A= 4500(1.643)

Answer: The amount after 10 years = $7393.5

Using the Annually compound interest formula:

A = P (1 + r / 100) t

A= 4500(1+5/100)10

A= 4500(105/100)10

Answer: The amount after 10 years = $ 7247.295

Using the Continuously compound interest formula:

e stands for Napier’s number, which is approximately 2.7183

$A=Pex^{rt} \\A=4500(e)^{.5} \\A= 4500(2.71)^{.5}$

A= $2,919

Answer: The amount after 10 years = $4500+$2,919=$7,419

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