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3 years ago

Question 1 (1 point)

Mathematics

1 answer:

Yuri [45]3 years ago

8 0

Answer:

Amount after 4 years = $3274.125

Step-by-step explanation:

Time t= 4 years

Principal amount p= $2500

Interest rate R= 6.75%

Number of times compounded n= 4*12

Number of times compounded n= 48

Amount A = p(1+r/n)^(nt)

A= 2500(1+0.0675/48)^(48*4)

A= 2500(1+0.001406)^(192)

A= 2500(1.001406)^192

A= 2500(1.30965)

A= 3274.125

Amount after 4 years = $3274.125

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