We have been given that Nicolas has $6,500 to deposit into an account which earns 3.25% interest compounded annually. We are asked to find amount of interest earned at the end on 8 years.

We will use compound interest formula to solve our given problem.

$A=P(1+\frac{r}{n})^{nt}$ , where,

A = Final amount,

P = Principal amount,

r = Annual interest rate in decimal form,

n = Number of times interest is compounded per year,

t = Time in years.

$3.25\%=\frac{3.25}{100}=0.0325$

$A=6500(1+\frac{0.0325}{1})^{1\cdot 8}$

$A=6500(1+0.0325)^{8}$

$A=6500(1.0325)^{8}$

$A=6500(1.2915775352963673)$

$A=8395.253979$

Now we will subtract principal amount from final amount to find amount of interest as:

$\text{interest}=8395.253979-6500$

$\text{interest}=1895.253979\approx 1895.25$

Therefore, Nicolas would have earned $1895.25 in interest at the end of 8 years.

7 0

3 years ago

WILL GIVE BRAINLIEST PLZ HELP FAST!!! Jacque estimates the square root of 125 in the following way:

VladimirAG [237]

Answer:

Step-by-step explanation:

<h2>√125/5 = √25 since 125/5 = 25</h2><h2>√25 = 5</h2><h2 /><h2>Hopes this helps. Mark as brainlest plz!</h2>

6 0

3 years ago

Give the equation of a line that has no x-intercepts no y-intercepts an infinite number of y-intercepts a point that is both the

WITCHER [35]

Answer:

The x-intercept is (-2,0)

Step-by-step explanation:

4 0

3 years ago

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