1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Can anyone please help me with this w
expeople1 [14]
5=27
N=5

Explanation=there’s a difference between each number of 5

Eg:12-7=5
17-12=5
22-17=5
So that means 22+5=27 and n=5 since it is the number difference
(I hope this helps you out)
3 0
3 years ago
Plz help ill give you brainlist to you
Nastasia [14]
First one the answer is A; Alexander needs 70 ft
8 0
3 years ago
A recipe for cake needs ¾ of a cup of milk. You are making ½ of the recipe. How much milk do you need?
belka [17]

Answer:

3/8 cups

Step-by-step explanation:

divide 3/4 by two

4 0
3 years ago
Let f(x) ln(1+t^2)dt find f'(x) find the critical numbers of f g
OverLord2011 [107]
X1y hope it helps I'm just starting out
7 0
3 years ago
Write an equation to represent the direct proportional relationship between the amount of gratuity (9) received by a room servic
AleksandrR [38]

Oh wait this is confusing.. i think somebody asked this question and got it answered

so search it up on here

3 0
3 years ago
Read 2 more answers
Other questions:
  • Kelly reads x hours a week. tim reads two times more than kelly and jim reads five hours more than tim. which expression represe
    13·2 answers
  • 6(3m+5)=66<br> find m please
    10·2 answers
  • Cindy's Gift Shoppe purchased 8-inch candles at $9.95 a dozen, less a 25 percent trade discount. If the owner wishes to sell the
    13·1 answer
  • A ²-3ac+c ² if a=-2/3 and c=1/5
    13·1 answer
  • How can you get coefficients that are equal for X?<br> 3x + 2y = 12<br> 6x + 3y = 21
    5·1 answer
  • Please Help! Math- Slope!
    11·1 answer
  • Please help 60 Points!!!!!!!! my school is glitched :C
    9·2 answers
  • What is the quotation of 3/4 divided by 1/5
    9·1 answer
  • Recursive equation for -2, -5, -8, -11, -14
    9·1 answer
  • 5. A cube has edges 4 inches long. Susan plans to completely cover each face of the cube with square pictures that are 2 inches
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!