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kupik [55]
3 years ago
9

14,800 at 6% compounded semiannually for 4 years.. I need to know the interest and the compound amount

Mathematics
1 answer:
Zepler [3.9K]3 years ago
6 0
\bf \qquad \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad 
\begin{cases}
A=\textit{compounded amount}\\
P=
\begin{array}{llll}
\textit{original amount}\\
\textit{deposited}
\end{array}\to &\$14,800\\
r=rate\to 6\%\to \frac{6}{100}\to &0.06\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{semi-annually, meaning twice}
\end{array}\to &2\\

t=years\to &4
\end{cases}

now, that will give you "A", or the compounded amount

what's the interest earned?  well, subtract the original amount, the Principal, from A, A - P, and you'd be left with the earned interest

--------------------------------------------------------------------------------------------
\bf A=14,800\left(1+\frac{0.06}{2}\right)^{2\cdot  4}

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