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

PLEASE HELP?! Explain how to do these types of problems fast!!

uranmaximum [27]

Answer:

m∠J = m∠Z = 46°

Step-by-step explanation:

m∠J = m∠Z = 46°

6 0

3 years ago

Plz help............................

Natasha2012 [34]

1.) Factor 9u^2-12u
$\frac{3u(3u-4)}{3u}$

2.) Cancel any common factors (in bold will be the terms eliminated)
$\frac{3u(3u-4)}{3u}$

Final answer is: 3u-4

Therefore, the answer is C. 3u-4

5 0

2 years ago

Read this statement: “If a triangle is isosceles, then it is equilateral.” What is the converse of the statement?

makkiz [27]

From the above statement that “If a triangle is isosceles, then it is equilateral" the only thing i can conclude is If a triangle is equilateral, then it is isosceles.

8 0

2 years ago

Read 2 more answers

Express the area of the entire rectangle.

Cloud [144]

Answer:

$\huge\boxed{A=x^2+12x+35}$