Question

Evaluate the following expression for P=8000, r=10%, k=4, and n=15.

Answer 1

We are given the following expression:

$P(1+\frac{r}{k})^{nk}$

We are given the following values:

$\begin{gathered} P=8000 \\ r=10\text{ percent} \\ k=4 \\ n=15 \end{gathered}$

For the value of "r" we will express the percentage in decimal form:

$r=\frac{10}{100}=0.1$

Now we will substitute the values in the expression:

$P(1+\frac{r}{k})^{nk}=(8000)(1+\frac{0.1}{4})^{(4)(15)}$

Solving the operations we get:

$P(1+\frac{r}{k})^{nk}=35198.32$

Therefore, the value of the expression is 35198.32.