Respuesta :

The formula for compound interest is I = P(1 + r/n)^{nt}
I = Interest, P = Principal amount, R = rate of interest, N = how many times compounded per year, and T = time in years

So, we plug our numbers into the formula. I = 96,239.23(1+.07/12)^{12*30}

Simplify and we get I = 96,239.23(1.00583)^{360}

Simplify more and we get I = 780,194.11. That is how much interest we have generated.
mreijepatmat
A=P(1+r/n)^(t/n) this the formula of compound interest over a period of time =t and added up every n interval (in this case n=12, means 12 months:

A=96,239.23(1+(0.07/12)⁽³⁰ˣ¹²⁾ ==>A= 96,239.23(1.0058)⁽³⁶⁰⁾

A=781,125.47
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