Information P=R6500 n=4 years R=0.06 Calculate Accrued amount

Mathematics
Information P=R6500 n=4 years R=0.06 Calculate Accrued amount

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Answer

R8206.09\text{R}8206.09

Step 1: Identify the given values and the formula for the accrued amount. The principal amount is P=R6500P = R6500. The number of years is N=4N = 4. The interest rate is R=0.06R = 0.06.

To calculate the accrued amount, we use the compound interest formula, assuming annual compounding since no other compounding period is specified: A=P(1+R)NA = P(1 + R)^N where AA is the accrued amount.

Step 2: Substitute the given values into the formula. A=6500(1+0.06)4A = 6500(1 + 0.06)^4

Step 3: Calculate the value inside the parenthesis and then raise it to the power of NN. A=6500(1.06)4A = 6500(1.06)^4 A=6500×1.26247696A = 6500 \times 1.26247696

Step 4: Multiply the result by the principal amount to find the accrued amount. A=8206.09024A = 8206.09024 Rounding to two decimal places for currency: A=R8206.09A = R8206.09

The accrued amount is R8206.09\boxed{R8206.09}.

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