Answer:
Step-by-step explanation:
First you would do 5 multiplied by the numerator and then make it a mixed number so 5×5 = 25/8 as a mixed number its 3 and 1/8 so it falls between 2 and 4
We are given the following information
Investment = $5200
Annual interest rate = 4.2% = 0.042
Final amount = $16,500
Number of years = 27.7 years
Number of compoudings = quartely = 4
The student uses the following model

The general formula for compound interest is given by

As you can see, the number of compoundings is incorrect (3 vs 4)
The interest rate is also incorrect.
Let us substitute the given values into the above formula

Therefore, the final amount is approximately $16,543.5
Its 23 all you have to do is times all the numbers around
Answer:
they won 85.7%
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