Mathematics, 26.09.2019 22:30, angie249

An investment of $8,350 earns 5.2% interest compounded monthly over 10 years. approximately how much interest is earned on the investment?
a. $4,342
b. $5,513
c. $5,679
d. $13,863

Answers: 1

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Hey there!

When finding compound interest, you'll use this equation:

$A = P(1+ \frac{r}{n})^{nt}$ , where:

A = final amount of money
P = Principal (initial amount of money)
r = interest rate (as a decimal, divide a percentage by 100 to get its decimal form)
n = number of times a year
t = years

We can write out all of the information that has been given in this problem:

A = what we want to find
P = 8350
r = 0.052
n = 12
t = 10

Now, just plug in all of those numbers and solve:

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

$A = 8350(1+ \frac{0.052}{12})^{(12)(10)}$

$A = 8350(1+0.00433)^{(120)}$

$A = 8350(1.00433)^{(120)}$

Remember to follow PEMDAS and do your parentheses first and your exponents second. You'll do your exponent before you do your multiplication.

A = 8350(1.68014)

The amount of money originally invested in addition to the interest adds up to $14,029.17. To find the amount of interest alone, subtract the principal by the total we just found:

14029.17 – 8350 = 5679.17

The final amount of interest is $5,679.17, which can be rounded down to $5,679. Your answer will be C.

Hope this helped you out! :-)

answered: Guest

la parábola es el lugar

geométrico en el cual los puntos tienen una distancia idéntica, equidistantes,

de un punto denominado foco, f, y una recta denominada directriz

el radio vector de una

parábola es el segmento que existe entre un punto cualquiera y el foco.

por la ecuación se observa

que la parábola abre hacia la derecha, por lo cual podemos usar las siguientes fórmulas

la ecuación ordinaria de la

parábola es y^2 = 4px, donde p es la longitud desde el vértice de la parábola al

foco.

la fórmula de la directriz