Answer:
a
Step-by-step explanation:
Answer:
![A=P(1+r)^t](https://tex.z-dn.net/?f=A%3DP%281%2Br%29%5Et)
![\$7029.46](https://tex.z-dn.net/?f=%5C%247029.46)
Step-by-step explanation:
As this is the case of exponential growth, we can use the function
![A=P(1+r)^t](https://tex.z-dn.net/?f=A%3DP%281%2Br%29%5Et)
Here A is function of t, where A gives the balance after time t.
P = initial deposit,
r = rate of change or rate of interest,
$6200 deposit that earns 8.4% annual interest compounded monthly for 18 months.
So,
P = $6200,
r = 8.4% annual =
monthly =
monthly (as interest compounded monthly)
t = 18 months,
Putting all the values,
![A=6200(1+\frac{0.084}{12})^{18}](https://tex.z-dn.net/?f=A%3D6200%281%2B%5Cfrac%7B0.084%7D%7B12%7D%29%5E%7B18%7D)
![=6200(1+0.007)^{18}](https://tex.z-dn.net/?f=%3D6200%281%2B0.007%29%5E%7B18%7D)
![=6200(1.007)^{18}](https://tex.z-dn.net/?f=%3D6200%281.007%29%5E%7B18%7D)
![=\$7029.46](https://tex.z-dn.net/?f=%3D%5C%247029.46)
Step-by-step explanation:
just hints available i cannot do more thanthat
The 41 is not the direct height going up it is just the side