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stepan [7]
3 years ago
6

Paul, who is self employed, placed $30,000 in an account that pays 6% annual interest, compounded quarterly. How much interest w

as earned in 10 years?​
Mathematics
1 answer:
Schach [20]3 years ago
3 0

Answer:

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

A = P(1+r/n)^nt

Where

A = total amount in the account at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount deposited

From the information given,

P = 30000

r = 6% = 6/100 = 0.06

n = 4 because it was compounded 4 times in a year.

t = 10 years

Therefore,.

A = 30000(1 + 0.06/4)^4 × 10

A = 30000(1 + 0.015)^40

A = 30000(1.015)^40

A = $54421

The amount of interest earned after 10 years is

54421 - 30000 = $24421

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Step-by-step explanation:

The angle \alpha is the angle opposite to the side of length 5 and adjacent to the side of length 12. From Trigonometry we remember the following relationships:

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10u + t is the expressions shows the value of the reversal of digits in a two digit number, t = the tens digit and u = the ones digit. This can be obtained by multiplying 10 with the tens digit and adding unit digit.

<h3>Which is the required expressions?</h3>

Given that, in a two digit number,

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u = the ones digit

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The value of its reversal,

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10×u + t = 10u + t is the required expression

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