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Sagot :
Answer:
$14,854.85
Explanation:
For a principal (P) saved at compound interest, the amount earned (Interest) is determined using the formula:
[tex]I=P(1+\frac{r}{n})^{nt}-P[/tex]We have that:
• Principal, P = $21,000
,• Interest Rate, r=13.6%=0.136
,• Number of times compounded, n = 4 (Quarterly)
,• Number of Years, t =4
Substituting these values, we have:
[tex]\begin{gathered} I=21000(1+\frac{0.136}{4})^{4\times4}-21000 \\ =21000(1+0.034)^{16}-21000 \\ =21000(1.034)^{16}-21000 \\ =35854.85-21000 \\ I=14854.85 \end{gathered}[/tex]She would have earned $14,854.85 at the end of the term.
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