Find the compound interest earned by the deposit of $1800 at 6% compounded quarterly for 6 years.

1 answer:

6 0

The equation for the problem is x(1+r)^t

X is the original deposit
R is the rate or percentage of growth
T is the time, in years

X=1800
R=.06
T= 6

F(x)=1800(1+.06)^6
=1800(1.06)^6
=1800(1.41852)
=2533.3344

The above is the future value of the money, to find out how much was gained by interest just subtract the original investment of 1800

2533.3344-1800=753.3344

So the answer is B

You might be interested in

Place the following objects in order from greatest to least gravitational force. Explain your answer.

kozerog [31]

well when thinking of gravity you have to think of the size and mass of the object so,

The sun (largest and most mass)

Earth

Earth's moon

Discover satellite (cause it's tiny and light compared to the sun!)

7 0

2 years ago

Candice leaves on a long trip driving at a steady rate of 35 miles per hour. Her sister Liz leaves from the same location travel

VARVARA [1.3K]

Answer:

Step-by-step explanation:

$v=\dfrac{d}{t}\\\\v-\text{average speed}\\d-\text{distance}\\t-\text{time}\\\\d=vt,\ t=\dfrac{d}{v}\\\\\bold{Candice:}\ v_C=35\ mph,\ d_C,\ t_C\\\\\bold{Liz}:v_L=50\ mph,\ d_L,\ t_L=t-3\\\\\bold{Equation}:\\\\/\text{the distances are the same}/\\\\d_C=d_L\\\\d_C=v_Ct_C,\ d_L=v_Lt_L\\\\35t_C=50(t_C-3)\qquad\text{use the distributive property}\\\\35t_C=50t_C-150\qquad\text{subtract}\ 50t_c\ \text{from both sides}\\\\35t_C-50t_C=50t_C-50t_c-150\\\\-15t_C=-150\qquad\text{divide both sides by (-15)}$