Answered

At Westonci.ca, we connect you with the best answers from a community of experienced and knowledgeable individuals. Discover detailed solutions to your questions from a wide network of experts on our comprehensive 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 choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.