Question

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

Answer 1

Answer:

i'm almost sure the answer is $205

Step-by-step explanation:

Answer 2

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.