Answer:
Explanation:
To calculate the interest rate on Selena's debt, we may utilize the formula for continuous compounding of interest. A = P * e is the formula (rt)
Where:
A = the total amount (including interest)
P denotes the original principal (loan amount)
r denotes the interest rate (as a decimal)
t = time (in years)
We know Selena's total (A) is 8,000 + 2,292.77 = 10,292.77.
8,000 is the initial primary (P).
6 years have passed.
The interest (I) is calculated as A-P = 2,292.77.
We may use the formula for continuous compounding of interest to compute the interest rate on Selena's debt. The formula (rt) is A = P * e.
A denotes the whole sum (including interest)
P stands for the original principle (loan amount)
r represents the interest rate (as a decimal)
t = time (in years)
Selena's total (A) is 8,000 plus 2,292.77 = 10,292.77.
The initial primary is 8,000. (P).
6 years have gone by.
A-P = 2,292.77 is the interest (I) calculation.