renav86766 renav86766
  • 22-01-2021
  • Business
contestada

A = P + I where
P (principal) = $ 10,000.00
I (interest) = $ 3,366.37

Respuesta :

mejes29509 mejes29509
  • 22-01-2021

Answer:

A = $ 13,366.37

Explanation:

First, convert R percent to r a decimal

r = R/100

r = 3.875%/100

r = 0.03875 per year,

Then, solve an equation for A  like this:

A = P(1 + r/n)nt

A = 10,000.00(1 + 0.003229167/12)(12)(7.5)

A = $ 13,366.37

Summary:

P + I = $ 13,366.37

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