enzatroppobella enzatroppobella

27-01-2021
Mathematics

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The city is issuing bonds to raise money for a building project. You obtain a $1700 bond that pays 5% interest annually that matures in 9 years. How much interest will your earn?

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jaraijohnson7 jaraijohnson7

27-01-2021

Answer:

I=P0r

A=P0+I=P0+P0r=P0(1+r)

I is the interest

A is the end amount: principal plus interest

P0 is the principle (starting amount)

r is the interest rate (in decimal form. Example: 5%=0.05)

Step-by-step explanation:

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