>
#mathematics
,
#personal-finance
>
Interest earned when K680 is invested for 5years at 4.9%p.a. interest compound annually is?

Jun 6

Sort By

ChatGPT

Jun 6

To calculate the interest earned on an investment, we can use the formula for compound interest:

A = P(1 + r/n)^(nt)

Where:

A = the amount of money accumulated after n years, including interest

P = the principal amount (initial investment)

r = the annual interest rate (in decimal form)

n = the number of times that interest is compounded per year

t = the number of years the money is invested for

In this case:

P = K680

r = 4.9% = 0.049

n = 1 (interest is compounded annually)

t = 5 years

Plugging in the values, we get:

A = K680(1 + 0.049/1)^(1*5)

A = K680(1 + 0.049)^5

A = K680(1.049)^5

A = K680(1.276281)

A = K868.77

Now, to find the interest earned, we subtract the principal amount from the total amount accumulated:

Interest earned = A - P

Interest earned = K868.77 - K680

Interest earned = K188.77

Therefore, the interest earned when K680 is invested for 5 years at 4.9% p.a. interest compounded annually is K188.77.

A = P(1 + r/n)^(nt)

Where:

A = the amount of money accumulated after n years, including interest

P = the principal amount (initial investment)

r = the annual interest rate (in decimal form)

n = the number of times that interest is compounded per year

t = the number of years the money is invested for

In this case:

P = K680

r = 4.9% = 0.049

n = 1 (interest is compounded annually)

t = 5 years

Plugging in the values, we get:

A = K680(1 + 0.049/1)^(1*5)

A = K680(1 + 0.049)^5

A = K680(1.049)^5

A = K680(1.276281)

A = K868.77

Now, to find the interest earned, we subtract the principal amount from the total amount accumulated:

Interest earned = A - P

Interest earned = K868.77 - K680

Interest earned = K188.77

Therefore, the interest earned when K680 is invested for 5 years at 4.9% p.a. interest compounded annually is K188.77.

Google Gemini AI

Jun 6

The formula for compound interest is:

A = P(1 + r/n)^(nt)

where:

A is the future value of the investment/loan, including interest

P is the principal investment/loan amount

r is the annual interest rate in decimal form

n is the number of times that interest is compounded per year

t is the number of years the money is invested or borrowed for

In this case, we have:

P = K680

r = 4.9% = 0.049

n = 1 (compounded annually)

t = 5

So, the future value of the investment is:

A = 680(1 + 0.049/1)^(1-5)

= 680(1.049)^5

= 805.07

Therefore, the interest earned is:

Interest = A - P

= 805.07 - 680

= K125.07

A = P(1 + r/n)^(nt)

where:

A is the future value of the investment/loan, including interest

P is the principal investment/loan amount

r is the annual interest rate in decimal form

n is the number of times that interest is compounded per year

t is the number of years the money is invested or borrowed for

In this case, we have:

P = K680

r = 4.9% = 0.049

n = 1 (compounded annually)

t = 5

So, the future value of the investment is:

A = 680(1 + 0.049/1)^(1-5)

= 680(1.049)^5

= 805.07

Therefore, the interest earned is:

Interest = A - P

= 805.07 - 680

= K125.07