Answer:
There is one solution and that answer is mixed number form 1 5/7 or exact form 12/7
Step-by-step explanation:
A product is negative when the number of negative numbers in the multiples is odd.
Therefore, options A and C gives negative products.
First, we convert the interest such that it is compounded annually. The formula would be:
ieff = (1 + i/m)^m - 1
where m = 4, since there are 4 quarters in a year
ieff = (1 + 0.025/4)^4 - 1
ieff = 0.0252
Then we use this for this equation:
F = P(1 + i)^n, where F is the future worth, P is the present worth and n is the number of years
F = $600(1 + 0.0252)^15
F = $871.53
