Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Join our platform to connect with experts ready to provide detailed answers to your questions in various areas. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.
Sagot :
[tex]~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$12000\\ r=rate\to 5.3\%\to \frac{5.3}{100}\dotfill &0.053\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{quarterly, thus four} \end{array}\dotfill &4\\ t=years\dotfill &5 \end{cases} \\\\\\ A=12000\left(1+\frac{0.053}{4}\right)^{4\cdot 5}\implies A=12000(1.01325)^{20}\implies A\approx 15613.98[/tex]
Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.
