Which is equivalent to 2163? 3 6 36 7
1 answer:
You might be interested in
Answer:
The money she will end up earning in interest on the cd = $11,352.90
Step-by-step explanation:
The formula for getting the accumulated amount(compounded) is;
Where
A = Accumulated amount
P = principle (deposit)
r = interest rate and
n = no of times interest applied per time period.
The interest is compounded quarterly so in one year it will be 4 times
In 5 years
n = (5×4)-3 = 17 (as she will withdraw 3 month before the completion of five years)
A = ^17
= 7100( 1 + 0.028)^17
= 7100(1.028)^17
= 7100 * 1.599
= 11,352.90
Therefore the money she will end up earning in interest on the cd = $11,352.90
<h3><u>Answer:</u></h3>
The simple interest is $3352.
<h3><u>Step-by-step explanation:</u></h3>Using PRT/100, we can find the interest.
- => 41,900 x 4 x 2/100
- => 419 x 4 x 2
- => $3352
Therefore, the simple interest is $3352.
Hoped this helped.
