PLEASE HELP ME WITH THIS ONE
1 answer:
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Option b: 7000
Explanation:
The function that Larissa earns on an investment is
The amount of money originally invested by Larissa can be found using the compound interest formula,
where
P is the amount of money invested. (Principal)
r is the rate of interest which can be expressed as decimals.
x is the number of periods.
Hence, comparing with the formula
, the principal amount can be determined.
Thus, the principal amount is 7000.
Answer:
The Final Investment Value is
The interest earned is
Step-by-step explanation:
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
Find the interest earned