Answer:
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
To reduce a fraction divide the numerator and the denominator by their greatest common factor, GCF. ... The numerator and the denominator of the fraction are coprime numbers (no common prime factors, GCF = 1), the fraction cannot be reduced (simplified): irreducible fraction.