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Law Incorporation [45]

3 years ago

15

You wish to have $2000 in 3 years to buy a fancy new stereo system. How much

1 answer:

Nitella [24]3 years ago

7 0

Answer:

The correct answer is - $1977.7913.

Step-by-step explanation:

Given:

Maturity value = 2000

time = 3 years

rate = 6% compounded quarterly

Solution:

If A is the Maturity Value, P is the Principal Amount, r is the Rate of Return, n is the Frequency And t is the Time in Year then the Formula for Compound Interest would be -

A = P(1+r/n)^nt

Putting the given values in formula,

2000 = P*(1 + (0.06/4))^(3*4)

P = 2000/(1 + (0.06/4))^(3*4)

Thus,

P = $1977.7913

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4 years ago

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Ava used the following equation in order to solve a math problem involving integers.

AnnZ [28]

Answer:

The only equation which is incorrect is in option B.

Step-by-step explanation:

Eva used the following equation in order to solving integers, which is

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4 years ago