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2 years ago

I will give brainiest to whoever answers correctly !!

Mathematics

1 answer:

Dominik [7]2 years ago

3 0

Answer:

$8515.13

Step-by-step explanation:

Given :

Interest rate, r =. 1.25% = 0.0125 compounded quarterly

Principal = 8000

Number of years, t = 5 years

Compound interest :

A = P(1 + r/n)^nt

A = final amount ; n = number of compounding times per period

n = 4 (quarterly)

A = 8000(1 + 0.0125/4)^4*5

A = 8000(1 + 0.003125)^20

A = 8000(1.003125)^20

A = 8000 * 1.0643907

A = 8515.1258

Final. Amount to. Be repaid = $8515.13

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