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3 years ago

15

PLEASE HELP!!!

1 answer:

Allushta [10]3 years ago

8 0

Answer:

- 1/2 7/12 2/3 . 82

Am I right

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Step-by-step explanation:

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Beth will borrow $10,000 which earns 4% compound interest and she will repay that amount in 20 years. How much interest was earn

Serggg [28]

Answer:

$I=\$11,911.23$

Step-by-step explanation:

we know that

The compound interest formula is equal to

$A=P(1+\frac{r}{n})^{nt}$

where

A is the amount that she will repay

P is the amount borrowed

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

$t=20\ years\\ P=\$10,000\\ r=0.04\\n=1$

substitute in the formula above

$A=10,000(1+\frac{0.04}{1})^{1*20}$

$A=10,000(1.04)^{20}$

$A=\$21,911.23$

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$I=A-P$

substitute the values

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3 years ago