2 years ago

Use the compound interest formula A= P1+

Mathematics

1 answer:

USPshnik [31]2 years ago

7 0

Answer:

1,039.68

Step-by-step explanation:

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suppose that $17,000 is deposited for six years at 5% APR. Calculate the interest earned if interest is compounded quartly . Rou

Lapatulllka [165]

$\bf ~~~~~~ \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to &\$17000\\
r=rate\to 5\%\to \frac{5}{100}\to &0.05\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{quarterly, thus four}
\end{array}\to &4\\
t=years\to &6
\end{cases}
\\\\\\
A=17000\left(1+\frac{0.05}{4}\right)^{4\cdot 6}\implies A=17000(1.0125)^{24}$

the earned interest will then be A - P, namely A - 17000.

5 0

3 years ago

Find the perimeter and area of the figure.<br> 5 m<br> 3 m<br> 4 m

madam [21]

The perimeter would be 12 and the area would be 6

5 0

3 years ago

Read 2 more answers

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tresset_1 [31]

Answer:

Step-by-step explanation: