Respuesta :
To calculate the interest earned, we can use the following equation:
[tex]I=P((1+i)^n-1)[/tex]Where P is the value of the deposit, i is the interest rate and n is the number of periods of time.
First, we need to calculate the equivalent value of 1 1/8 % as:
[tex]1\frac{1}{8}\text{ \% = }\frac{1\cdot8+1}{8}\text{ \% = }\frac{9}{8}\text{ \% = 1.125\% = 0.01125}[/tex]So, replacing P by $50,000, i by 0.01125, and n by 6, we get:
[tex]\begin{gathered} I=50,000((1+0.01125)^6-1) \\ I=50,000(0.694) \\ I=3,471.3577 \end{gathered}[/tex]Answer: $ 3,471.3577
