Question

whole sheet of paper.
1.) Find the final or compound amount of P15,900.00 at 5.5% interest compounded
annually for 18 months.
Find the interest on 75 750.00 for 3 years at 8% compounded quarterly.​

Answer 1

Answer:

whole sheet of paper.

1.) Find the final or compound amount of P15,900.00 at 5.5% interest compounded

annually for 18 months.

Find the interest on 75 750.00 for 3 years at 8% compounded quarterly.​

Step-by-step explanation:

Answer 2

Final Answer:

The final or compound amount of P 15,900.00 at 5.5% interest compounded annually for 18 months is P 17,229.24.

The interest on 75,750.00 for 3 years at 8% compounded quarterly is 13,488.66.​

Given:

1. The principal value of P 15,900.00 is compounded at 5.5% interest annually for 18 months.
2. The principal value of 75,750.00 is compounded quarterly for 3 years at 8% .

To Find:

1. The final amount for the principal P 15,900.00 that is compounded at 5.5% interest annually for 18 months.
2. The interest of the principal value of 75,750.00 that is compounded quarterly for 3 years at 8% .

Explanation:

• The formula for compound interested amount is.

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

A = The final amount

P = The principal at the beginning

r = The interest rate

n = The number of times, for which the interest is applied per time period

t = The number of time period in terms of years

• The parameters interest, principal and amount are having the following relationship.
• Interest = Amount - Principal

Step 1 of 3

From the given data we get the following.

P = the principal value of P 15,900.00,

r = the compound interest of 5.5%,

t = the time period of 18 months or 1.5 year,

n = 1 (The number of times, for which the interest is applied per time period)

Hence, using the above formula, we get the compounded final amount is

$A\\=P \times (1+\frac{r}{n})^{nt}\\=15900\times (1+\frac{0.055}{1})^{1\times 1.5}\\\\=15900\times 1.0836\\=17229.24$

Step 2 of 3

From the given data we get the following.

P = the principal value of 75,750.00,

r = the compound interest of 8%,

t = the time period of 3 years,

n = 4 (The number of times, for which the interest is applied per time period)

Hence, using the above formula, we get the compounded final amount is

$A\\=P \times (1+\frac{r}{n})^{nt}\\=75750\times (1+\frac{0.055}{1})^{4\times 3}\\=75750\times (1+0.01375)^{12}\\=75750\times 1.1780\\=89238.66$

Step 3 of 3

The required Interest is

$Interest\\ = Amount - Principal\\=89238.66-75750\\=13488.66$

Therefore, we have the following two correct answers.

The required final or compound amount of P 15,900.00 at 5.5% interest compounded annually for 18 months is P 17,229.24.

The required interest on 75,750.00 for 3 years at 8% compounded quarterly is 13,488.66.​

Know more from the following links.

https://brainly.in/question/1128320

https://brainly.in/question/48896176

#SPJ3