KitKatKrunchy
22.10.2020 •
Business
Today, Jonathan is investing $34,000 at 5 percent, compounded semi-annually, for 7 years. How much additional income could Jonathan earn if he had invested this amount at 6 percent, compounded semi-annually
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Ответ:
Additional Earnings = $3386.940745 rounded off to $3386.94
Explanation:
To calculate the amount of additional income, we must first calculate the interest earned at 5% and 6% semi annual compounding for 7 years and then deduct the interest earned at 6% from the interest earned at 5%. The formula to calculate the interest earned under semi annual compounding is,
Interest earned = Principal * (1 + i/n)^(t*n) - Principal
Where,
i represents the interest rate in annual termsn represents the number of compounding periods per yeart is the time period in yearsAs the compounding is done semi annually, we can say that the interest is compounded 2 times in a year. Thus, n = 2
At 5 % semi annual compounding
Interest earned = 34000 * (1 + 0.05/2)^(7*2) - 34000
Interest earned = $14041.1099 rounded off to $14041.11
At 6 % semi annual compounding
Interest earned = 34000 * (1 + 0.06/2)^(7*2) - 34000
Interest earned = $17428.05065 rounded off to $17428.05
Additional earnings = 17428.05065 - 14041.1099
Additional Earnings = $3386.940745 rounded off to $3386.94
Ответ:
Question is incomplete
Step-by-step explanation:
But the common properties of a parallelogram are:
1. Diagonals bisect at 90 degrees
2. Opposite angles are equal
3. Opposite sides are equal
4. Rotational symmetry of order 2
5. No lines of symmetry
6. Quadrilateral.
Hope this helps