Answered

Westonci.ca offers quick and accurate answers to your questions. Join our community and get the insights you need today. Get immediate and reliable answers to your questions from a community of experienced experts on our platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

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 your visit. We are dedicated to helping you find the information you need, whenever you need it. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.