Really need help on this math question! “Jill is draining her pool before winter arrives.
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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:
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:
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:
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When you write a function in the form , y is the dependent variable, and x is the independent variable.
So, if b is the independent variable, it means that we have to solve the expression for r.
To do so, we perform the following steps: start with
Add 12 to both sides
Divide both sides by 4:
So, we wrote the expression in the form , which means that r is the dependent variable and b is the independent variable, as requested.