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aron4327
26.12.2020 •
Mathematics
I need help ASAP it’s compound interest and I’m not very good at it
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Ответ:
Part B:
5) She will have $4445.244256 in 3 years
Part C:
1) She will have $8081.130039 in 10 years
2) He will have $13360.55059 in 8 years
Step-by-step explanation:
The formula of the compound interest is A = P
, where
A is the new valueP is the initial amountr is the rate in decimaln is the number of the periodt is the time in yearsPart B:
5)
∵ P = $4250
∵ r = 1.5% = 1.5 ÷ 100 = 0.015
∵ n = 4 ⇒ Compounded quartly
∵ t = 3 years
→ Substitute them in the formula above
∴ A = 4250![(1+\frac{0.015}{4})^{4(3)}](/tpl/images/1007/7575/2889d.png)
∴ A = 4250![(1.00375)^{12}](/tpl/images/1007/7575/27ab7.png)
∴ A = 4445.244256
∴ She will have $4445.244256 in 3 years
Part C:
1)
∵ Grace deposits $6000
∴ P = 6000
∵ The account is compounded semi-annually at 3%
∴ r = 3% = 3 ÷ 100 = 0.03
∴ n = 2 ⇒ compounded semi-annually
∵ The time is 10 years
∴ t = 10
→ Substitute them in the formula above
∴ A = 6000![(1+\frac{0.03}{2})^{2(10)}](/tpl/images/1007/7575/df8c9.png)
∴ A = 6000![(1.015)^{20}](/tpl/images/1007/7575/dcdea.png)
∴ A = 8081.130039
∴ She will have $8081.130039 in 10 years
2)
∵ Danial opens an account that is compounded semi-annually at 5%
∴ r = 5% = 5 ÷ 100 = 0.05
∴ n = 2 ⇒ compounded semi-annually
∵ He deposits $9000
∴ P = 9000
∵ The time is 8 years
∴ t = 8
→ Substitute them in the formula above
∴ A = 9000![(1+\frac{0.05}{2})^{2(8)}](/tpl/images/1007/7575/80dc3.png)
∴ A = 9000![(1.025)^{16}](/tpl/images/1007/7575/14a32.png)
∴ A = 13360.55059
∴ He will have $13360.55059 in 8 years
Ответ:
not enough info
Step-by-step explanation: