You originally draw a design for an art contest on a 2 in. x 5 in. card. The second phase of the contest requires the drawing to
1 answer:
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Answer:
Option C) 16.01%
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
Apply log both sides
elevated both sides to 1/28
Multiply by 4 both sides to remove fraction
subtract 4 both sides
convert to percentage