Help me with this please
1 answer:
Answer:
$2,459.21
Step-by-step explanation:
(see attached for reference)
recall that the formula for compound interest is:
A = P [ 1 + (r/n)^ (nt) ]
where,
A = Final amount ( we are asked to find this)
P = principal amount = given as $2,340
r = Annual Interest Rate = given as 5% = 0.05
n = number of times compounded in a year = 4 (compounded quarterly)
t= time = 1 year
Substituting the values into the equation,
A = P [ 1 + (r/n)^ (nt) ]
A = 2,340 [ 1 + (0.05/4)^ (4·1) ]
A = $2,459.21
You might be interested in
Answer:
100
Step-by-step explanation:
To make a perfect square trinomial, you want to divide the use the following equation to find the missing constant:
when the quadratic is in standard form.
In this case, we would divide -20 by 2 and square it
-20/2 = -10
(-10)^2 = 100