HELP ME PLZ! I will not accept non sense answers. BRAINLIEST will be given to the person who gets it correct with full solutions

Question

Irina-Kira [14]

4 years ago

14

HELP ME PLZ! I will not accept non sense answers. BRAINLIEST will be given to the person who gets it correct with full solutions

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Mathematics

1 answer:

Mariana [72] · Answer 1 · 2021-12-11T15:43:53+03:00

<h3>Answer: Choice B. </h3>

$A = 1500(1.00167)^{12t}$

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Explanation:

You could use the formula

$A = P(1+\frac{r}{n})^{nt}$

to plug in P = 1500, r = 0.02 and n = 12 to get the answer above. This is the compound interest formula. The interest rate r is divided into n = 12 to account for monthly compounding. The original exponent t turns into 12t. So for instance, if t = 2 years go by, then 12*t = 12*2 = 24 months have gone by.