Uhhh help? I’ve never really used this app but I need help

Mathematics

1 answer:

liubo4ka [24]2 years ago

8 0

Answer:

what did you need help with? the image that is shown has nothing on it and is just a black screen. i will try my best to help you if you need it

Step-by-step explanation:

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Lane invests $7,000, at 7% interest, compounded annually for 22 years. Calculate the compound interest for his investment.

amm1812

$\bf ~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$7000\\ r=rate\to 7\%\to \frac{7}{100}\dotfill &0.07\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\dotfill &1\\ t=years\dotfill &22 \end{cases} \\\\\\ A=7000\left(1+\frac{0.07}{1}\right)^{1\cdot 22}\implies A=7000(1.07)^{22}\implies A\approx 31012.81$