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LenKa [72]
3 years ago
14

Aaron puts $1,000 in an account that pays 10% interest compounded quarterly. He leaves it in the account for six months. Estimat

e how much interest he earns.
A. $50
B. $100
C. $150
D. $200
Mathematics
2 answers:
myrzilka [38]3 years ago
7 0

Answer: . $50

Step-by-step explanation:

The formula to find the compound amount (compounded quarterly) is given by :-

A=P(1+\dfrac{r}{4})^{4t}, where P Is principal amount, r is the rate of interest in decimal and t is the time in years.

Given : Aaron puts $1,000 in an account that pays 10% interest compounded quarterly.

Then, P=1000, r=10%=0.1 ; t=\dfrac{6}{12}=0.5 year

Now, A=1000(1+\dfrac{0.1}{4})^{4(0.5)}

A=1000(1.025)^{2}=1050.625

Then , Compound interest=A-P=1050.625-1000=50.625\approx\$50

Hence, he earns the estimated interest of $50.

Keith_Richards [23]3 years ago
3 0
I think its C or D... idk hope it helps tho
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