Complete Question:
sierrac3000
06/28/2019
Select the correct answer from each drop-down menu.
Samuel received $250 as prize money for winning the St. Peterson High School Badminton Tournament. The money was deposited in a special scholarship account that offered an annual interest of 1.8% compounded semiannually. The amount he will have in the account after t years can be calculated using the expression below.
250(1+0.018/2)^2t
Use the given expression to complete the statements below.
The expression is the *blank* of the amount initially deposited and the *blank* of one and the rate of increase raised to the number of *blank*
1st Blank:
Product
Sum
Quotient
Square
2nd Blank:
Quotient
Product
Difference
Sum
3rd Blank:
Compounding Periods
Years
Months
Answer:
1st blank = product
2nd blank = sum
3rd blank = years
Step-by-step explanation:
The expression given above is :
250(1+0.018/2)^2t
The expression can thus be explained as:
The *product* of the amount initially deposited and the *sum* of one and the rate of increase raised to the number of *years*
