Complete Question:
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:
First blank: product
Second blank : Sum
Third blank : years
Step-by-step explanation:
The expression :
250(1+0.018/2)^2t
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*
The first blank represents product which adopts the use of the bracket () symbol
The second blank is the sum of one and the rate of increase depicted with the addition '+' sign
The third blank represents years which is the period of time in years for which the money was kept in the scholarship account
