First, we convert the interest such that it is compounded annually. The formula would be:
ieff = (1 + i/m)^m - 1
where m = 4, since there are 4 quarters in a year
ieff = (1 + 0.025/4)^4 - 1
ieff = 0.0252
Then we use this for this equation:
F = P(1 + i)^n, where F is the future worth, P is the present worth and n is the number of years
F = $600(1 + 0.0252)^15
F = $871.53
The answer is b that’s what i would pick
Hey there!!
Remember : R = range and f ( x ) = y and y = range
R : { 5 , 6 , 7 , 8 }
( 1 ) 5 = 1 x / 2 + 4
... 5 - 4 = x / 2
... 1 = x / 2
... x = 2 = ( 2 , 5 )
( 2 ) 6 = x / 2 + 4
... 2 = x / 2
... x = 4 = ( 4 , 6 )
( 3 ) 7 = x / 2 + 4
... 3 = x / 2
... x = 6 = ( 6 , 7 )
( 4 ) 8 = x /2 + 4
... 4 = x/2
... x = 8 = ( 8 , 8 )
Hope my answer helps!
Answer:
9.14285714286
Step-by-step explanation:
i dont know if you need to round it but heres the answer (hasnt been rounded)
