Find the Interest Earned.

Round to the nearest cent.

Amount = $980

Rate = 8%

Compounded = Quarterly

Time (Years) = 5

Find the Interest Earned.

Round to the nearest cent.

Amount = $7,200

Rate = 4%

Compounded = Annually

Time (Years) = 8

Find the Compound Amount.

Round to the nearest cent.

Amount = $7,200

Rate = 4%

Compounded = Annually

Time (Years) = 8

Find the Compound Amount.

Round to the nearest cent.

Amount = $15,520

Rate = 6%

Compounded = Semiannually

Time (Years) = 4

Find the Interest Earned.

Round to the nearest cent.

Amount = $15,520

Rate = 6%

Compounded = Semiannually

Time (Years) = 4

Question

Mathematics

Guest

30 August, 05:49

Find the Interest Earned.

Round to the nearest cent.

Amount = $980

Rate = 8%

Compounded = Quarterly

Time (Years) = 5

Find the Interest Earned.

Round to the nearest cent.

Amount = $7,200

Rate = 4%

Compounded = Annually

Time (Years) = 8

Find the Compound Amount.

Round to the nearest cent.

Amount = $7,200

Rate = 4%

Compounded = Annually

Time (Years) = 8

Find the Compound Amount.

Round to the nearest cent.

Amount = $15,520

Rate = 6%

Compounded = Semiannually

Time (Years) = 4

Find the Interest Earned.

Round to the nearest cent.

Amount = $15,520

Rate = 6%

Compounded = Semiannually

Time (Years) = 4

+4

Answers (1)

Know the Answer?

Zane Craig · Answer 1

A=p (1+i/m) ^mn

Interest earned

I=A-p

A=980 * (1+0.08:4) ^ (4*5)

A=1,456.23

I=1,456.23-980

I=476.23

A=7,200 * (1+0.04) ^ (8)

A=9,853.69

I=9,853.69-7,200

I=2,653.69

A=15,520 * (1+0.06:2) ^ (2*4)

A=19,660.27

I=19,660.27-15,520

I=4,140.27