The total amount accrued, principal plus interest, with compound interest on a principal of $12,000.00 at a rate of 14% per year compounded 12 times per year over 5 years is $24,067.32.The amount of the initial loan, or principal, is multiplied by one plus the annual interest rate raised to the number of compound periods minus one to determine compound interest.
<h3 /><h3>what is compound interest?</h3>
To begin, change R from a percentage to a decimal, using the formula:
r = R/100 r = 14/100
r = 0.14 rate per year;
Next, find A by solving
A = P(1 + r/n)nt A = 12,000.00(1 + 0.14/12)(12). (5)
A = 12,000.00(1 + 0.011666666666667)(60) (60)
A = $24,067.32
Summary: The total amount accrued, principal plus interest, with compound interest on a principal of $12,000.00 at a rate of 14% per year compounded 12 times per year over 5 years is $24,067.32.
The amount of the initial loan, or principal, is multiplied by one plus the annual interest rate raised to the number of compound periods minus one to determine compound interest. You will then be left with the loan balance plus compound interest.
To learn more about interest refer to:
brainly.com/question/2294792
#SPJ13
The answer: 7 * 1,829 = " 12,803 " .
______________
<span>The following is the explanation—"in expanded form" — (as per the specfic instructions— within this very question—as to how to get the answer:
</span>____________________
Given: 7 * 1,829 = ? ; Find the solution; using "expanded form" :
____________
(7 * 9 = 63 ) ; +
(7 *20 = 140) ; +
(7 * 800 = 5,600) ; +
___________________________________________
(7 * 1,000 = 7,000) ;
___________________________________________
Now, add the the values together to solve the problem:
___________________________________________
→ 7 * 1,829 = 63 + 140 + 5,600 + 7,000 ;
{ = 203 + 5,600 + 7,000 } ;
{ = 5,803 + 7,000 } ;
= 12,803 ; which is the answer.
________________________________________________
Alternately, write out the steps as follows—using "expanded form":
________________________________________________
→ 7 * 1,829 = ?
________________________________________________
→ 7 * 1,829 = (7*9) + (7*20) + (7*800) + (1,000) ;
________________________________________________
→ 7 * 1,829 = 63 + 140 + 5,600 + 1,000 ;
{ = 203 + 5,600 + 7,000 } ;
{ = 5,803 + 7,000 } ;
= 12,803 ; which is the answer.
____
→ {Now, is our obtained answer: "12,803" ; the "correct answer"—to the problem: " 7 * 1,829 " ;} ??
→ Let us check: {Note: " 7 * 1,829 " ; is the same as: ↔ " 1,829 * 7 " .}.
→ Using a calculator, does: "7 * 1829 = ? 12,803" ?? ; Yes! ;
→ &, for that matter; does: " 1829 * 7 =? 12,803" ?? ; Yes! .
_______
Furthermore, let us check, using the "traditional format" ;
→ Does: "1,829 * 7 =? 12,803 ?? " ;
________
{NB: We are multiplying 2 (TWO) numbers together; & 1 (ONE) of these 2 [TWO] numbers is a "1-digit" ["single-digit"] number; & the "OTHER" multiplicand is a "multiple-digit" [specifically, a"4-digit"] number.}.
______
NB: Yes; using a calculator is sufficient. Below, I simply provide an alternate method to confirm whether our "obtained value" is correct.
_____
→ Does: "7 * 1,289 = ? 12,803" ?? ;
→ Using the "traditional method"; let us check; as follows:
_____
₅ ₂ ₆
→ 1, 829
<span> <u> * 7 </u> </span>
12 8 03 ;
_____
So; does: "12,803 =? 12,803" ?? ; YES!
→ This "traditional method" shows that: "7 * 1,829" ; does, in fact, equal: "12,803".
_____
{NB: Explanation of the steps used in solving the aforementioned problem using the "traditional method"—just for clarification and confirmation} :
_____
→Start with: "7*9= 63" ; Write down the "3" & 'carry over' the "6" ; {Note the small-sized digit, "6"; written on top of the "2"; {commonly done—to keep track);
→Then; "7*2 = 14" ; then add the "small digit 6"; to the "14" ; →"14+6 =20" ;
Write down the "0" ; & 'carry over' the "2" ; {Note the "small-sized digit, "2"; written over the "8"; (commonly done—to keep track);
→ Then; "7*8 = 56" ; then add the "small digit 2"; to the "56"; → "56+2 = 58" ; Write down the "8" ; & 'carry over' the "5" ; {Note the "small-sized digit", "5" ; written over the "1" ; (commonly done—to keep track);
→Then; "7*1 = 7" ; then add the "small digit 5"; to the "7" ; → "7+5 = 12" ; Write down the "12" ; in its entirety—since are no digits left [in the multiplicand, "1,829"] ; to "carry over".
____
We get: "12,803" ; which =? "12,803" ?? ;→Yes!
____
I hope my explanation of how to solve "7 * 1,829" ; using the "expanded form" is helpful. Also, i hope my explanation—albeit lengthy— of confirming that [<em>our</em>] "correctly obtained value"—which is: "12,803"— is of some help.
__
