Mathematics, 26.09.2019 22:30 angie249

An investment of $8,350 earns 5.2% interest compounded monthly over 10 years. approximately how much interest is earned on the investment?
a. $4,342
b. $5,513
c. $5,679
d. $13,863

Answers: 1

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Hey there!

When finding compound interest, you'll use this equation:

$A = P(1+ \frac{r}{n})^{nt}$ , where:

A = final amount of money
P = Principal (initial amount of money)
r = interest rate (as a decimal, divide a percentage by 100 to get its decimal form)
n = number of times a year
t = years

We can write out all of the information that has been given in this problem:

A = what we want to find
P = 8350
r = 0.052
n = 12
t = 10

Now, just plug in all of those numbers and solve:

$A = P(1+ \frac{r}{n})^{nt}$

$A = 8350(1+ \frac{0.052}{12})^{(12)(10)}$

$A = 8350(1+0.00433)^{(120)}$

$A = 8350(1.00433)^{(120)}$

Remember to follow PEMDAS and do your parentheses first and your exponents second. You'll do your exponent before you do your multiplication.

A = 8350(1.68014)

The amount of money originally invested in addition to the interest adds up to $14,029.17. To find the amount of interest alone, subtract the principal by the total we just found:

14029.17 – 8350 = 5679.17

The final amount of interest is $5,679.17, which can be rounded down to $5,679. Your answer will be C.

Hope this helped you out! :-)

Answer from: Quest

is it 35

step-by-step explanation:

Answer from: Quest

Answer: question no. 1 -a. yes, the sides are in the ratio 2 : 5.question no. 2 -b. 59°question no. 3 -c. angles x and y are remote interior angles.question no. 4 -d. 90°, 45° and 45°question no. 5 -b. mn and qrstep-by-step explanation: question no. 1 -rs : xu = 3 : 7.5 = 2 : 5rt : x? = 6.4 : 16 = 2 : 5st : u? = 6 : 15 = 2 : 5as the ratios of all sides are equivalent, the triangles must be congruent and the sides must be proportional.therefore, the answer is: a. yes, the sides are in the ratio 2 : 5.question no. 2 -in the second diagram, angle b is the only letter not shown. therefore, the number must be equivalent to angle b.if we substitute the value of angle b as being 22° in the first diagram, we can now use the angle sum of a triangle to obtain the value of angle a.angle sum of a triangle = 180°therefore: let angle a = aa + 99 + 22 = 180a = 180 - 99 - 22a = 59°therefore, the answer is: b. 59°question no. 3 -angles x and y don't share the vertex of the triangle with the exterior angle w. remote interior angles don't share a vertex of a triangle with an exterior angle. this means that angles x and y are remote interior angles.therefore, the answer is: c. angles x and y are remote interior angles.question no. 4 -the sum of all interior angles of a triangle must be equivalent to 180°.90°, 45° and 45° are the only set of angle measures that are equivalent to 180°.therefore, the answer is: d. 90°, 45° and 45°question no. 5 -the only pair of sides stated in the options which are corresponding are mn and qr.therefore, the answer is: b. mn and qr.