Question

Can someone please help me​

Answer 1

9514 1404 393

Answer:

  P = 50,000

  r = 0.08

  i = 0.02

  K = 4

  n = 20

  t = 5

Step-by-step explanation:

In this formula, r is the annual interest rate, 8% or 0.08. K is the number of times the interest is compounded in a year. Since interest is compounded quarterly, K = 4.

  r = 0.08

  i = r/K = 0.08/4

  i = 0.02

t is the number of years interest is compounded, so ...

 t = 5

  n = Kt = 4·5

  n = 20

P is the principal amount invested:

  P = 50,000