Question

I REALLY NEED HELP!

Answer 1

Answer:

B

Step-by-step explanation:

The compound interest formula is $A = P (1+r/n)^nt$ where:

• P is the starting amount called the principle
• r is the rat written as a decimal
• n is the number of times compounded in a year
• t is the number of years

Substitute a value into each variable to solve.

• P = $147 since 10% of 1,470 is being invested which makes P = 0.10(1470) = 147.

• The rate is 3.5% or r = 0.035.
• n = 12 because it is compounded monthly meaning 12 times a year.
• t = 25 since it will earn for 25 years.

$A = P (1+r/n)^{nt}\\A = 147(1 + \frac{0.035}{12})^{12*25}\\A = 147 ( 1 + 0.002916)^{300}\\A = 147(1.002916)^{300}\\A = 352.19$

Repeat this process for each formula.