Find the balance of an account after 7 years if &700 is deposited into an account paying 4.3% interest compounded monthly.
1 answer:
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Answer:
Therefore,
The Equivalent expression is option A,
Step-by-step explanation:
Given:
Expressions is
To Find:
Equivalent expression ?
Solution:
We have Law of indices
For option A
(1.08^t)^4
Hence option A is the Equivalent expression.
For option B
1.08^8t/1.08^2t
Which is not the Equivalent expression.
For option C
1.08^4*1.08^t
Which is not the Equivalent expression.
For option D
1.08^6t/1.08^2t
Which is not the Equivalent expression.
Therefore,
The Equivalent expression is option A,