Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. Mike's account balance after 21 years is $69,131.44.
<h3>What is compound interest?</h3>
Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. It's the outcome of reinvesting interest rather than paying it out so that interest is received on the principal plus previously collected interest in the next quarter.,

where A is the final amount
P is the principal amount
r is the rate of interest
n is the number of times interest is charged in a year
t is the number of years
The principal amount that Mike invested is $29,000. The rate of interest is 7.24% compounded daily, for 21 years. Therefore, the account balance after 21 years is

= $69,131.44
Hence, Mike's account balance after 21 years is $69,131.44.
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Answer:
B
Step-by-step explanation:
Subtract 48,000 from 6,000 divide it by 4=10500.
Answer:
is it multiple answer?
Step-by-step explanation:
Answer:
The measured side is not shown, so i will answer in a general way.
A cube is a 3-dimensional object with 6 square faces.
You know that all the sides of a square have the same length, then is the same for the cube.
To calculate the volume of a cube, we start with the area of the base.
The base is a square of sidelength L (Suppose that L is the length of the measured side)
The area of the base is:
A = L^2.
To find the volume, we must multiply the area of the base by the height of the fire (because the section of the base does not change).
And the height of the cube is also L.
Then the volume is:
V = L*a = L^3