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Mandarinka [93]
3 years ago
11

Tricia invested 8500 at 3% interest compounded annually how much interest will she earn in 3 years?

Mathematics
2 answers:
ZanzabumX [31]3 years ago
6 0

Answer:

$16159

Step-by-step explanation: you cross multiply to find the intrest for 1 year then times it by 3


                     3

--------          -------

8500          100

8500x3=255oo%100=255x3=7659

$7659+$8500=16159


natali 33 [55]3 years ago
4 0

Answer:

$9288.18

Step-by-step explanation:

She has P = 8500 dollars to deposit for t = 3 years and it's compounded n = 1 times per year. So this means the final amount A is...


A = P*(1+r/n)^(n*t)


A = 8500*(1+0.03/1)^(1*3)


A = 8500*(1.03)^3


A = 8500*(1.092727)


A = 9288.1795


A = 9288.18

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