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k0ka [10]
3 years ago
11

Will give brainliest!!!!!!

Mathematics
1 answer:
maksim [4K]3 years ago
3 0

A) P is the current value so P is $2,500.

r is the annual percentage rate which is 2.7% BUT it must be written as a decimal.

\frac{100 + 2.7}{100}  = 1.027

so r is 1.027.

n is 4 because it is compounded quarterly which is 4 times per year.

B) now substitute these values into the formula and now you know that t is 7 as it says in the question

2500 \times ({1 +  \frac{1.027}{4} }^{7 \times 4} )

when you type this into the calculator, you should round your answer to 2 decimal places as you are considering money.

therefore, the answer is $1,502,827.17

hope this helps! have a good day ~ •lipika•

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