Mathematics: Simplify using the laws of exponents: x4 x6 =

Simplify using the laws of exponents: x4 x6 =

tyrique86

18.05.2023

£107.72

Step-by-step explanation:

Given

P = 200 -- Principal

$r = 9\%$ -- Rate

$t = 5\ years$ -- Time

n = 1 -- compounded once in a year

Required

Determine the compound interest

This is calculated using:

$I = P(1 + \frac{r}{n})^{nt} - P$

$I = 200(1 + \frac{9\%}{1})^{1*5} - 200$

$I = 200(1 + \frac{0.09}{1})^5 - 200$

I = 200(1 + 0.09)^5 - 200

I = 200(1.09)^5 - 200

I = 307.72 - 200

I = 107.72

Hence, the total interest earned is £107.72

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