Question

The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Find how much money will be in the account after the given number of years (Assume 360 days in a year.), and how much interest was earned. Int A P A = Pert n nt 1 + 38) Principal: $10,000 Rate: 5% Compounded: semiannually Time: 5 years A) amount in account: $11,314.08; interest earned: $1314.08 B) amount in account: $12,762.82; interest eamed: $2762.82 C) amount in account: $12,800.85; interest eamed: $2800.85 D) amount in account: $16,288.95; interest earned: $6288.95

Answer 1

To Compound Innt Nowe following Primeipal = 10000 Rute 5% Timo s your .: Compound intrest formula NE A plan +7 (xs) 10000 1to.os 0.05 "* 10000 (1.055 10000 Ch.276252) A = 12762.82 Amount of intrist eurned T= A-P 13762.83 - 1oooo Intrast - 2.262.82

.: Therefore option Lo Amount of intrast +ourܥܥܘ *. ܛܟ݂ܟ݂ܝܠܩܛܡܫܙ ܝ ܕܫܝܦܘܕܐܝܐ