Your answer is 160 i had this on a test hope this helps
<span>it must be nnnnnnnnnnnnnnnnnnnnnnnnn
4.37%
</span>
Answer: 0.28915663
Step-by-step explanation:
24 divided by 83
Answer:
$1,179
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
![A=P(1+\frac{r}{n} )^{nt}](https://tex.z-dn.net/?f=A%3DP%281%2B%5Cfrac%7Br%7D%7Bn%7D%20%29%5E%7Bnt%7D)
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
<em />
First, lets change 2.6% into a decimal:
2.6% ->
-> 0.026
Since the interest is compounded quarterly, we will use 4 for n. Lets plug in the values now:
![A=910(1+\frac{0.026}{4})^{4(10)}](https://tex.z-dn.net/?f=A%3D910%281%2B%5Cfrac%7B0.026%7D%7B4%7D%29%5E%7B4%2810%29%7D)
![A=1,179.21](https://tex.z-dn.net/?f=A%3D1%2C179.21)
The account balance after 10 years will be $1,179