Answer:
obj?
Step-by-step explanation:
Answer:
correcto
Step-by-step explanation:
Your answers is correct Don’t worry good job
Amount in compound interest = p(1 + r/t)^nt where p is the initial
deposit, r = rate, t = number of compunding in a period and n = period.
Here,
Amount after 6 months (0.5 year) = 1,950(1 + (4.25/100)/4)^(0.5 x 4) = 1,950(1 +
0.0425/4)^2 = 1,950(1 + 0.010625)^2 = 1,950(1.010625)^2 = 1,950(1.0213629) =
$1,991.66
Compound interest = Amount - principal (initial deposit) = $1,991.66 - $1,950 = $41.66
