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Leviafan [203]
3 years ago
12

Frederick deposited $200 in the bank. The bank paid him interest compounded quarterly at the rate of 5 percent per year.

Mathematics
2 answers:
makvit [3.9K]3 years ago
6 0

Answer:

i'm almost sure the answer is $205

Step-by-step explanation:

jasenka [17]3 years ago
5 0
A) $205.03



The formula for calculating compounded interest is x=s(1+\frac{r}{n})^{nt}, where r is the rate of change (0.05), n is the number of times per year interest is compounded (4), s is the starting amount (200), and t is the number of years (0.5).

Substitute these values in to get x=200(1+\frac{0.05}{4})^{4*0.5}. The fraction can be simplified further to get x=200(1.0125)^{4*0.5}.

Now simplify the multiplication in the exponent to get x=200(1.0125)^{2}. Then solve the exponent. x=200(1.02515625)

Finally, multiply. You end up with $205.03125, which can be rounded to $205.03.



Please consider marking my answer as Brainliest to help me advance.
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