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stephanie1105
23.11.2020 •
Mathematics
HURRY HELP
Tammy sold a diamond ring for $10,000. She placed the money into a CD with a 3.9% interest rate compounded
annually. What is the interest earned on the amount after 4 years?
a.)$1653.66
b.)$1984.87
c.)$1492.04
d.)$1119.99
Solved
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Ответ:
Work Shown:
Use the compound interest formula
A = P*(1+r/n)^(n*t)
A = 10000(1+0.039/1)^(1*4)
A = 11,653.65589441
A = 11,653.66
That's the amount of money Tammy will have at the end of 4 years.
Subtract off the principal from this value to get the interest.
interest = A - P
interest = 11,653.66 - 10,000
interest = 1,653.66
Ответ:
A
Step-by-step explanation: