Where A is the compound amount after t years, P is the principal (initial amount) i is the interest rate and n is how many times the interest is compounded in a year.

So, for P = 71000, i = 0.0102, t = 4 and n = 4, we have:

$\begin{gathered} A=71000\cdot(1+\frac{0.0102}{4})^{4\cdot4}_{} \\ A=71000\cdot(1+0.00255)^{16} \\ A=73952.87 \end{gathered}$

Therefore the compound amount is $73952.87

The amount of interest is:

$\begin{gathered} I=A-P \\ I=73952.87-71000 \\ I=2952.87 \end{gathered}$

So the amount of interest earned is $2952.87.

3 0

2 years ago

Blake has b baseball cards. His aunt gave him more cards, increasing his total number of cards by 25%. Which expression represen

Iteru [2.4K]

The answer is A because we dont know how many baseball cards blake had so you would add .25 to b

3 0

3 years ago

Read 2 more answers

Seven times a number is equal to 12 more than three times the number. Find the number

nadya68 [22]

$x-\ number\\\\
7x=3x+12\ \ \ | subtract\ 3x\\\\
4x=12\ \ \ | divide\ by\ 4\\\\
x=3\\\\
Number\ is\ 3.$

5 0

3 years ago