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3 years ago

HELP

Mathematics

1 answer:

Vladimir [108]3 years ago

7 0

3.5/8=0.4375

when you round if last number is higher than 5 then you chose higher number, if it's lower, you chose lower. If it's 5, you look if next number is pair (chose higher) or nonpair (chose lower).

so you round to 0.437

and then 0.44

and then 0.4

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Find the balance in an account with $7,000 principal earning 5% interest compounded quarterly

nadya68 [22]

Answer:

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Step-by-step explanation:

we know that

The compound interest formula is equal to

$A=P(1+\frac{r}{n})^{nt}$

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

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in this problem we have

$t=10\ years\\ P=\$7,000\\ r=0.05\\n=4$

substitute in the formula above

$A=\$7,000(1+\frac{0.05}{4})^{4*10}=\$11,505.34$

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sergij07 [2.7K]

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