Where A is the compound amount after t years, P is the principal (initial amount) i is the interest rate and n is how many times the interest is compounded in a year.

So, for P = 71000, i = 0.0102, t = 4 and n = 4, we have:

$\begin{gathered} A=71000\cdot(1+\frac{0.0102}{4})^{4\cdot4}_{} \\ A=71000\cdot(1+0.00255)^{16} \\ A=73952.87 \end{gathered}$

Therefore the compound amount is $73952.87

The amount of interest is:

$\begin{gathered} I=A-P \\ I=73952.87-71000 \\ I=2952.87 \end{gathered}$

So the amount of interest earned is $2952.87.

3 0

2 years ago

NEED HELP ASAP!!!!

Luden [163]

Answer:

I think its P= 34/41. sorry

3 0

3 years ago

What is the volume of the rectangular prism

drek231 [11]

Answer:

Step-by-step explanation:

V=WHL

8 0

3 years ago

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