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sasho [114]
3 years ago
13

3.

Mathematics
1 answer:
svetlana [45]3 years ago
5 0
Correct Answer: Option A

Principal Amount = P = $23,400
Interest rate = r = 3% = 0.03
Time = t = 10
Number of compounding periods in a year = n = 2
Compounded amount = A = ?

Formula for compound interest is:

A = P(1+ \frac{r}{n} )^{t*n}

Using the values, we get:

A=23400(1+ \frac{0.03}{2})^{2*10}=31516.41

Option A is the closest one, so its the correct answer
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