Leinirosas
Answered

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help me with this please ​

Help Me With This Please class=

Sagot :

sqdancefan

Answer:

  A) $14,025.52

  B) $4,025.52

Step-by-step explanation:

A.

The compound interest formula we like is ...

  A = P(1 +r)^t

gives the amount in the account when principal P is compounded annually at rate r for t years.

  A = $10,000(1 +0.07)^5 ≈ $14,025.52 . . . . balance after 5 years

__

B.

The interest is the difference between the amount deposited and the balance:

  $14,025.52 -10,000 = $4,025.52 . . . . interest earned

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