-UIVIT UUNNU INTEREST

Mathematics

1 answer:

Jobisdone [24]2 years ago

5 0

Answer:

Step-by-step explanation:

Principal, P = $4,000

Interest rate, r = 3% = 0.03

Period, t = 20 years

Number of times compounded in a year = 4

Amount , A = P( 1 + r/n)^tn

A = 4000( 1 + 0.03/4)^4*20

A = 4000( 1 + 0.0075) ^80

A =4000( 1.0075) ^80

A = 4000* 1.818

A = $7272.18

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