$500 invested at 8% compounded quarterly after a period of 2 1/2 years
2 answers:
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Answer:
= 78
= 3.5
Step-by-step explanation:
First we need to find .
We can use the equation to solve for
.
We can then change that equation to , since the Commutative Property of Addition says that you can have any addition in any order.
Now, we can solve the equation.
Now that we solved , we can now solve for
.
Since 25 equals , we can solve the equation
.
Here is how you solve it:
Since equals 3.5, which is the simplest form, that is the answer.
Hope this helps, and please mark me brainliest! :)