Question

BRAINLIEST AND POINTS!!! PLEASE EXPLAIN

Answer 1

Answer:

Option C. $\ 23,134.61$

Step-by-step explanation:

we know that

$A=\frac{P[(1+r)^{n} -1]}{r(1+r)^{n}}$

we have

$P=\ 400$

$r=0.075/12=0.00625$

$n=6*12=72\ months$

substitute in the formula

$A=\frac{400[(1+0.00625)^{72} -1]}{0.00625(1+0.00625)^{72}}\\ \\A=\frac{226.446972}{0.009788}\\ \\A=\ 23,134.61$