Determine the equation of the line with slope -4 that passes through the point M(-2, 1).
1 answer:
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Answer:
<em>The correct option is: B. $30.00</em>
Step-by-step explanation:
<u>The formula for compound interest</u> is.......
, 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,
As the CD is compounded quarterly, so here
Plugging these values into the above formula......
So, the amount of total interest earned