Answer:
$7,544.58
Step-by-step explanation:
We will use the compound interest formula provided to solve this:
<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, change 3.3% into its decimal form:
3.3% -> -> 0.033
Since the interest is compounded monthly, we will use 12 for n. Lets plug in the values now:
The balance after 1 year will be $7,544.58
Started in Quadrant II and ended in Quadrant IV.
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Explanation:
Refer to the diagram below. It shows how the four quadrants are labeled using roman numerals. We start in the upper right corner (aka northeast corner) and work counterclockwise when labeling quadrant I, II, III, and IV in that order.
The green point A is located in quadrant II in the northwest. Meanwhile point B in red is in the southeast quadrant IV.
Therefore, we started in <u>quadrant II</u> and ended in <u>quadrant IV</u> which points us to <u>choice C.</u>
