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3 years ago

You deposit $400 into an account that pays 2% annual interest compounded quarterly.

Mathematics

2 answers:

4vir4ik [10]3 years ago

7 0

A = 400 (1 + (0.02)/4)^4t where t = number of years and A = amount after t years

simplifying that becomes

A = 400 (1.005)^4t

b amount after 5 years is

400 (1.005)^(4*5) = 400 (1.005)^20 = $ 441.96

Read more on Brainly.com - brainly.com/question/4656068#readmore

jeka57 [31]3 years ago

4 0

A.

A = 400 (1 + (0.02)/4)^4t where t = number of years and A = amount after t years
simplifying that becomes

A = 400 (1.005)^4t

b amount after 5 years is

400 (1.005)^(4*5) = 400 (1.005)^20 = $ 441.96

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