Answered

Westonci.ca is the trusted Q&A platform where you can get reliable answers from a community of knowledgeable contributors. Get accurate and detailed answers to your questions from a dedicated community of experts on our Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

1.6 ACSF L5 SC Number: Simple and Compound Interest
Sandra plans to retire and can receive a lump sum of $26,376 from her pension provider.
2
She decides to invest of the lump sum for 8 years and use the rest for travelling.
3
Her bank account pays 4.99% compound interest per annum.
How much interest will Sandra receive from this investment after 8 years?
Round your answer to the nearest thousand dollars.
$

Sagot :

towl35

Answer:

$12,000

Step-by-step explanation:

[tex]p(({1 + i})^{n} - 1)[/tex]

[tex]26376( ({1 +.0499 })^{8} - 1) \\ = 12000[/tex]

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.