Answer:
5.29150262213
Step-by-step explanation:
I hope this answer has helped you
Answer
After the 10 years with accrued interest, there will be roughly $1,552.92 in the account.
Explanation
Using the given equation A = P(1 +r)^t
We are given that our initial start is $500.
P = 500
We are further told that the percentage interest gained is 12%, so we need to convert this into a decimal to be able to work with it.
12% / 100% = 0.12
r = 0.12
t is then our time in years
t = 10
A = 500(1 + 0.12)^10
A = 500(1.12)^10
A = 500(3.1058)
A = 1,552.92
After the 10 years with accrued interest, there will be roughly $1,552.92 in the account.
This is the simplest way I could explain that complex question.
To determine a percentage difference, simply divide the difference of the two numbers by the original. For instance, 82-65.60=16.4 16.4 is 20% of 82, so the discount is 20% (16.4/82)
