Step-by-step explanation:
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The Compound Interest of 10400 at 12.7% for 4 years is 6378.
The principal amount is given as 10400.
The rate of interest is given as 12.7%.
The time period to be calculated is given as 4 years.
The compound interest for the given above is to be calculated.
<h3>What is
compound interest?</h3>
Compound interest is the interest that we earn both on the principal amount and the interest we earn.
The formula used to calculate compound interest is:
![P [ (1 + \frac{R}{100} )^n - 1 ]](https://tex.z-dn.net/?f=P%20%5B%20%281%20%2B%20%5Cfrac%7BR%7D%7B100%7D%20%29%5En%20-%201%20%5D)
Where P = principal amount, R = rate of interest, and n = number of years.
We have,
P = 10400
R = 12.7%
n = 4 years
Compound interest:
![P [ (1 + \frac{R}{100} )^n - 1 ]\\\\10400 [ (1 + \frac{12.7}{100} )^4 - 1 ]](https://tex.z-dn.net/?f=P%20%5B%20%281%20%2B%20%5Cfrac%7BR%7D%7B100%7D%20%29%5En%20-%201%20%5D%5C%5C%5C%5C10400%20%5B%20%281%20%2B%20%5Cfrac%7B12.7%7D%7B100%7D%20%29%5E4%20-%201%20%5D)
Now,
10400 [ ( 1 + 0.12.7 )^2 - 1 ]
10400 [ 1.127^4 - 1 ]
10400 [ 1.61322 - 1 ]
10400 x 0.6132
6377.56
Rounding to the nearest whole number.
We have,
Compound Interest = 6378.
Thus the Compound Interest of 10400 at 12.7% for 4 years is 6378.
Learn more about Compound Interest here:
brainly.com/question/13155407
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Answer:
= 0.45
= 0.54 repeating
Step-by-step explanation:
You can solve these easily with a calculator.
= 0.45
= 0.54 repeating
Answer: It would be approximately 2000 ft.
Step-by-step explanation:
Answer:
14.29
Step-by-step explanation:
Let p be the price of the cd
we take the price of the cd plus the tax and it must be less than or equal to 15
the tax is the price of the cd times 5 %
p + p*.05 ≤15
Combine like terms
p*1.05 ≤15
Divide each side by 1.05
p ≤15/1.05
p ≤14.28571429
Rounding to the nearest cent
p ≤14.29
The maximum price is 14.29