Respuesta :

tramserran

Answer: t = 2,     r = 4%,        A = $12,994.28

Step-by-step explanation:

The formula for compound interest is: [tex]A=P_o\bigg(1+\dfrac{r}{n}\bigg)^{nt}[/tex]  where

  • A is the accrued amount
  • P₀ is the principal (initial amount invested)
  • r is the rate (convert percent into a decimal)
  • n is the number of times per year the interest is compounded
  • t is the number of years the principal is invested

The information provided in the given problem is:

  • P₀ = 12,000
  • r = 4% ⇒ 0.04
  • n = quarterly ⇒ 4
  • t = 2

[tex]A = 12,000\bigg(1+\dfrac{0.04}{4}\bigg)^{4\cdot 2}\\\\.\quad =12,000(1+0.01)^{8}\\\\.\quad =12,000(1.01)^{8}\\\\.\quad =12,994.28[/tex]

Otras preguntas