Beth will borrow $10,000 which earns 4% compound interest and she will repay that amount in 20 years. How much interest was earned on her loan?Question 4 options:$8,000$21,911.23$11,911.23$18,000

Answer:[tex]I=\$11,911.23[/tex]Step-by-step explanation:we know that    The compound interest formula is equal to  [tex]A=P(1+\frac{r}{n})^{nt}[/tex]  where  A is the amount that she will repay  P is the amount borrowed  r is the rate of interest  in decimal t is Number of Time Periods  n is the number of times interest is compounded per year in this problem we have  [tex]t=20\ years\\ P=\$10,000\\ r=0.04\\n=1[/tex]  substitute in the formula above  [tex]A=10,000(1+\frac{0.04}{1})^{1*20}[/tex]  [tex]A=10,000(1.04)^{20}[/tex]  [tex]A=\$21,911.23[/tex]  Find out the interest[tex]I=A-P[/tex]substitute the values[tex]I=\$21,911.23-\$10,000=\$11,911.23[/tex]