1 answer:
Answer:
<u>A</u>
Step-by-step explanation:
Compound Interest Formula :
- A = P (1 + r/n)^(nt)
- A = amount with interest
- P = Principal amount
- r = rate (in decimal)
- n = amount of times compounded
- t = number of years
Here, we are given :
- P = 700
- r = 5% = 0.05
- n = 4 (quarterly means 4 times a year)
- A = 1500
Substituting the given values and taking x in place of t :
- <u>1500 = 700(1 + .05/4)^4x</u>
- Option A
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Answer:
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Answer:
5
Step-by-step explanation:
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