PLZ HELP ITS URGENT!!! Which of the following represents the value of the series below? Also maybe if possible, could you please
add an explanation?
2 answers:
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Answer
Total amount earned after 16 years = $93649
Explanation:The principal, P = $50,000
Interest rate, r = 4% = 4/100
r = 0.04
The time, t = 16 years
Number of times intesrest is compounded per year, n = 1
Total amount is calculated below:
Total amount earned after 16 years = $93649