Answered

At Westonci.ca, we provide reliable answers to your questions from a community of experts. Start exploring today! Get immediate answers to your questions from a wide network of experienced professionals on our Q&A platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

Find the compound interest and the total amount after 4 years and 6 months if the interest is compoundedannually.Principal = 1,00,000Rate of interest = 10% per annumTotal amount =Compound interest

Find The Compound Interest And The Total Amount After 4 Years And 6 Months If The Interest Is CompoundedannuallyPrincipal 100000Rate Of Interest 10 Per AnnumTot class=

Sagot :

Given:

Principal = P = 100,000

Rate of interet = r = 10% = 0.1

Compounded annually, n = 1

Time = t = 4 years and 6 months = 4.5 years

So,

The total amount = A

[tex]A=P\cdot(1+\frac{r}{n})^{nt}[/tex]

Substitute with the given data:

[tex]A=100,000\cdot(1+\frac{0.1}{1})^{4.5}=100,000\cdot1.1^{4.5}=153,556.1[/tex]

And the compound interest =

[tex]153,556.1-100,1000=53,556.1[/tex]

So, the answer will be:

Total amount = 153,556.1

Compound interest = 53,556.1

Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.