Respuesta :

[tex]A\text{ = }P(1+r)^t[/tex]

Replacing the information given on the formula:

[tex]12300=P(1+0.06)^4[/tex]

Solving for P:

[tex]P\text{ = }\frac{12300}{1.06^4}=9742.75[/tex]

Interest earned: 12300 - 9742.75 = 2557.25