Principal Compounded The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Rate Time $6500 4% quarterly 5 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned. A Click the icon to view some finance formulas. Formulas A. The amount of money in the account after 5 years is $. (Round to the nearest hundredth as needed.) In the provided formulas, A is the balance in the account after t years, P is the principal investment, r is the annual interest rate in decimal form, n is the number of compounding periods per year, and Y is the investment's effective annual yield in decimal form. B. The amount of interest eamed is $ (Round to the nearest hundredth as needed.) P= A=Pe -1
Principal Compounded The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Rate Time $6500 4% quarterly 5 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned. A Click the icon to view some finance formulas. Formulas A. The amount of money in the account after 5 years is $. (Round to the nearest hundredth as needed.) In the provided formulas, A is the balance in the account after t years, P is the principal investment, r is the annual interest rate in decimal form, n is the number of compounding periods per year, and Y is the investment's effective annual yield in decimal form. B. The amount of interest eamed is $ (Round to the nearest hundredth as needed.) P= A=Pe -1
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 66SE: Kyoko has 10,000 that she wants to invest. Her bankhas several investment accounts tochoose from,...
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Transcribed Image Text:Compounded
The principal represents an amount of money deposited in a savings account subject to
compound interest at the given rate.
Principal
$6500
Rate
Time
4%
quarterly
5 years
A. Find how much money there will be in the account after the given number of years.
B. Find the interest earned.
crap
- X
Click the icon to view some finance formulas.
Formulas
A. The amount of money in the account after 5 years is $
(Round to the nearest hundredth as needed.)
In the provided formulas, A is the balance in the account after t years, P is the
principal investment, r is the annual interest rate in decimal form, n is the number
of compounding periods per year, and Y is the investment's effective annual yield
in decimal form.
D- TCRe
10732..
B. The amount of interest eamed is $
nt
(Round to the nearest hundredth as needed.)
P=
A=Pe
-1
Print
Done
APR
10
MacBook Air
esc
30 F3
F1
F4
FS
F6)
F7
#3
$
&
2
4
7
8.
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