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lesya692 [45]
3 years ago
14

$10,000 is compounded quarterly at 12% interest for t years. what expression represents the amount of money after t years.

Mathematics
2 answers:
fredd [130]3 years ago
4 0

we know that  

The compound interest formula is equal to  

A=P(1+\frac{r}{n})^{nt}  

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  

t=t\ years\\ P=\$10,000\\ r=0.12\\n=4  

substitute in the formula above  

A=10,000(1+\frac{0.12}{4})^{4t}  

A=10,000(1+0.03)^{4t}  

A=10,000(1.03)^{4t}  

therefore

<u>the answer is</u>

A=10,000(1.03)^{4t}  

snow_tiger [21]3 years ago
4 0
A=p(1+i/k)^k*t
A=10000(1+0.12/4)^4*t
A=10000(1.03)^4t
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