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3 years ago

7

Write the number equal to 2 tens 15 ones

1 answer:

Crazy boy [7]3 years ago

4 0

Well 2 tens are 20 and 15 ones are 15 so 2 tens and 15 ones are 35 as an answer.

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Anthony wants to buy CD for $400 that earns 2.5% APR and is compound quarterly. The CD matures in 3 years. Hi interest earned wi

lukranit [14]

Answer:

<em>The correct option is: B. $30.00</em>

Step-by-step explanation:

<u>The formula for compound interest</u> is.......

$A=P(1+\frac{r}{n})^n^t$ , where A= Final amount, P= Initial amount, r= rate of interest in decimal form, n= number of compounding in a year and t= time duration in years.

Anthony wants to buy CD for $400 that earns 2.5% APR and is compound quarterly and the CD matures in 3 years.

So here, $P= 400, r=2.5\%=0.025, t= 3$

As the CD is compounded quarterly, so here $n= 4$

Plugging these values into the above formula......

$A= 400(1+\frac{0.025}{4})^(^4^*^3^)\\ \\ A= 400(1+0.00625)^1^2\\ \\ A=400(1.00625)^1^2\\ \\ A= 431.053...$

So, the amount of total interest earned $= (\$431.053...-\$400)=\$31.053... \approx \$30.00(Approximately)$

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3 years ago