Answer: the 2nd one
Step-by-step explanation: you didn’t multiply the -7 by 5, therefore being wrong
Answer:
No, equivalent quarterly rate will be approx 1.75%
Step-by-step explanation:
Given that Chan deposited money into his retirement account that is compounded annually at an interest rate of 7%.
We know that there are 4 quarters in 1 year.
So to find that equivalent quarterly we will divide given yearly rate by number of quarters.
That means divide 7% by 4.
which gives 1.75%.
But that is different than Chan's though of 2% quarterly interest.
Hence Chan is wrong.
Answer:
31% discount
Step-by-step explanation:
hope that helps :)(:
Hey that’s the answer I got I hope it helps you.