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sara deposit 7,500 at the end of each four months in an organization which gives an interest at 7% compounded quarterly how much will she have after 12 years​

Sagot :

Answer:

A = P 1,733.04

A = P + 1 where

P (principal) = P 750.00

I (interest) = P 983.04

Calculation Steps:

First, convert R percent to r a decimal

r = R / 100

r = 7%/100

r = 0.07 per year,

Then, solve our equation for A

A = P(1 + r / n) * n * t

A = 750.00(1 + 0.005833333/12)(12)(12)

A = P 1,733.04

Summary:

The total amount accrued, principal plus interest,

from compound interest on an original

principal of

P 750.00 at a rate of 7% per year

compounded 12 times per year

over 12 years is P 1,733.04.