It is one/1 hope that helps.
Given
Present investment, P = 3400
APR, r = 0.0115
compounding time = 13 years
Future amount, A
A. compounded annually
n=13*1=13
i=r=0.0114
A=P(1+i)^n
=3400*(1+0.0115)^13
=3944.895
B. compounded quarterly
n=13*4=52
i=r/4=0.0115/4
A=P(1+i)^n
=3400*(1+0.0115/4)^52
=3947.415
Therefore, by compounding quarterly, he will get, at the end of 13 years investment, an additional amount of
3947.415-3944.895
=$2.52 (to the nearest cent)
Answer:
b i took the test that was the right answer
Step-by-step explanation:
I was going to say that you would need to change the mixed numbers into an improper fraction but then I realized that they both have the same denominator (4), meaning that in this case if the whole number outside of the fraction is bigger than the one for the other then it’s greater than regardless.
6 is greater than 5, so
5¾<6¼
