Answer:
FV = P(1 + r/t)^nt; where P is the initial investment, r is the rate, t is the number of accumulation in a year, n is the number of years.
FV = 7650(1 + 0.05/4)^(9 x 4) = 7650(1 + 0.0125)^36 = 7650(1.0125)^36 = 7650(1.564) = $11,964.17
Step-by-step explanation:
The 4 Pack is the better value ;)
Options 1 does not represent a function
So, if it grows by 6.75%, each year the population is 106.75% of the year before.
After 1 year, 370,000(1.0675). After two years, 370,000(1.0675)(1.0675).
370,000(1.0675)12 = your answer
