A sweater is regularly $32 it is 25% off the original price this week

1 answer:

3 0

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Hello!

Lynne invested 35,000 into an account earning 4% annual interest compounded quarterly she makes no other deposits into the account and does not withdraw any money. What is the balance of Lynne's account in 5years

Data:

P = 35000

r = 4% = 0,04

n = 4

t = 5

P' = ?

I = ?

We have the following compound interest formula

$P' = P*(1+\dfrac{r}{n})^{nt}$