Answer: $7,510.41
A = P (1+r/100)^n
A =
A= 87,510.41 (Approximate to two decimal places)
I = A-P
I = 87,510.41 - 80,000
I = 7,510.41
Note:
A=Total amount
P=Principal (Initial amount)
r= Rate of interest
n=Time
I= Interest
Answer: Remember that our original exponential formula was y = ab^x. You will notice that in these new growth and decay functions, the b value (growth factor) has been replaced either by (1 + r) or by (1 - r). The growth "rate" (r) is determined as b = 1 + r.
I think is the 4 because no number is working very will to multiple all just 4