Question

9. Alicia Martin's savings account has a principle of $1,200. It earns 6% interest compounded quartly

Answer 1

Answer:

$9) \ 1236.27\,10)\,\ 6451.07\, 11)\,\ 10,152.87 \,12)\,\ 907.95 \,13)\,\ 4957.69$

Step-by-step explanation:

9) Since Alicia Martin's savings earns 6% quarterly for two quarters then:

$A=P(1+\frac{r}{n})^{nt}$ ⇒ Amount (A), Principle (P), rate (r) in decimal form, number of compoundings (n) a year and t, in year or its fractions.

$A=P(1+\frac{r}{n})^{nt}\Rightarrow A=1200(1+\frac{0.06}{4})^{4*\frac{1}{2}}\Rightarrow A=\ 1236.27$

10) Aubrey Daniel's case:

$A=P(1+\frac{r}{n})^{nt}\Rightarrow A=5725(1+\frac{0.04}{4})^{4*3}\Rightarrow A\approx \ 6451.07$

11) As for Angelo, similarly to Alicia.

$A=P(1+\frac{r}{n})^{nt}\Rightarrow A=9855(1+\frac{0.06}{4})^{4*\frac{1}{2}}\Rightarrow A\approx \ 10,152.87$

12) Simpson's. For semiannual n=2

$A=P(1+\frac{r}{n})^{nt}\Rightarrow A=860(1+\frac{0.055}{2})^{2*1}\Rightarrow A\approx \ 907.95$

13) Jana Lacey amount:

$A=P(1+\frac{r}{n})^{nt}\Rightarrow A=4860(1+\frac{0.04}{4})^{4*\frac{1}{2}}\Rightarrow A\approx \ 4957.69$