An investment of $2,000 is earning interest at the rate of 6.2% compounded quarterly over 5 years. approximately how much interest is earned on the investment?
a.
$724.67
b.
$2127.72
c.
$720.37
d.
$2720.37

Let:
 
P be the initial amount of money called the Principal, 

compounded n times a year, with an r annual interest rate, then after 

t many years, the amount of money A is given by the formula:



Remark
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r is generally a percentage like 3%, 7% etc and are applied in the formula as 0.03, 0.07..., 

the interest is compounded generally annually (n=1), quarterly (n=4), monthly (n=12), etc...

t is in years,

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Thus, in our problem, P=$2,000, r=6.2%=0.062, n=4, t=5

Applying the formula:







2720.4-2000=720.4 ($)

ok so the answer to your question is simple as long as you look at the different dimensions that contain the exemplary letters that combined in the right order give you words that eventually within the 5th dimension will conform and give you the correct answer to your question. hope i , stop looking at this easily, look at it with a spectral view.

step-by-step explanation:

told you

$54.99

step-by-step explanation:

$54.99 includes 500 min. if she does not exceed 500 min then her bill is $54.99