Answer:
$14025.52
Step-by-step explanation:
The Total amount after a compound interest can be calculated using the formula:
where P is the amount of deposit, R is the rate of interest, n is the duration.
Hence by substituting the values, we get:
T = <u>$14025.52 (nearest cent)</u>
Hello there.
First, assume the numbers such that they satisties both affirmations:
With these informations, we can set the following equations:
Multiply both sides of the second equation by a factor of :
Make
We can rewrite the expression on the left hand side using the binomial expansion in reverse: , such that:
The square of a number is equal to if and only if such number is equal to
, thus:
Substituting that information from in
, we get:
Calculate the square root on both sides of the equation:
Once again with the information in , we have that:
The set of solutions of that satisfies both affirmations is:
This is the set we were looking for.