Question

Valerie deposits $1,900 in an account that

Answer 1

Answer:

$2273.19

General Formulas and Concepts:

Pre-Algebra

Order of Operations: BPEMDAS

1. Brackets
2. Parenthesis
3. Exponents
4. Multiplication
5. Division
6. Addition
7. Subtraction

• Left to Right

Algebra I

Compound Interest Rate Formula: $\displaystyle A = P(1 + \frac{r}{n})^{nt}$

• A is final amount
• P is principle amount
• r is rate
• n is compound rate
• t is time (in years)

Step-by-step explanation:

Step 1: Identify Variables

P = $1900

r = 3% = 0.03

n = 4

Step 2: Solve for A

1. Substitute [CIRF]:                    $\displaystyle A = 1900(1 + \frac{0.03}{4})^{4(6)}$
2. (Parenthesis) Divide:              $\displaystyle A = 1900(1 + 0.0075)^{4(6)}$
3. (Parenthesis) Add:                  $\displaystyle A = 1900(1.0075)^{4(6)}$
4. (Exponents) Multiply:             $\displaystyle A = 1900(1.0075)^{24}$
5. Exponents:                             $\displaystyle A = 1900(1.19641)$
6. Multiply:                                  $\displaystyle A = 2273.19$