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Phantasy [73]
2 years ago
12

Use the formula to solve the problems.

Mathematics
1 answer:
Ber [7]2 years ago
3 0

Answer:

$4,309.12

Step-by-step explanation:

The computation of the interest earned is given below:

But before that the amount would be

Amount = Principal × (1 + rate of interest)^number of years

= $6,000 × (1 + 0.07)^8

= $6,000 × 1.07^8

= $10,309.12

Now the interest earned is

= Amount - principal

= $10,309.12 - $6,000

= $4,309.12

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