PersonPerson13260
21.11.2019 •
Mathematics
10. na'il diggs deposited $6,500 into a savings account paying 6% annual interest,
compounded monthly. how much compound interest did he earn in 3 months?
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Ответ:
$97.99
Step-by-step explanation:
3 months is "fraction" of a year
How much?
3/12 = 1/4th of a year
So, the interest earned in 3 months, is annual interest divided by 4.
We can use compound interest formula shown below to solve this easily:
Where
A is the future amount
P is the present amount (principal)
r is the rate of interest annual
n is the number of compounding in a year
t is the time in years
So, let's find the given information:
P = 6500
r = 6% = 6/100 = 0.06
n = 12 [compounded monthly, so 12 times compounding]
t = 1/4 = 0.25 [3 months = 0.25 of a year]
Now, substituting, we find the value of 6500 after 3 months:
So 6500 became 6597.99 in 3 months. The excess amount is the interest earned.
Interest Earned = 6597.99 - 6500 = $97.99
Ответ:
54
Step-by-step explanation:
9x3=27
27 x 2 = 54