32 = 2m - 6 Plz Help! This is due and I did not learn this because I was absent that day! Help me Plz! 14 points!
2 answers:
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Answer:
C. <em>$720.37</em>
Step-by-step explanation:
An investment of $2,000 is earning interest at the rate of 6.2% compounded quarterly over 5 years.
We know that,
here,
A = Future amount,
P = Principal = $2000
r = Rate of interest = 6.2% = 0.062
n = Number of period = 4 (as compounded quarterly)
t = time period = 5 years
Putting the values,
So the interest will be,