if $5,250 is invested at 4.5% compounded monthly, what is the amount accumulated at the end of 10 years?
1 answer:
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Answer:
A
Step-by-step explanation:
In order to compare all three numbers, you must change them all to have the same form, either all decimal form, all fraction, or all percentages.
The easiest ways to compare are decimal and percentage, as they're practically the same thing. For simplicities sake, though, let's turn all the numbers into decimal.
Since 0.85 is already in decimal form, leave it as it is.
3/4 can be turned into a decimal by putting it into a calculator, but intuitively you should know that it's 0.75. If you don't know a fraction intuitively, you just need to make the fraction into a multiple of denominator 100 and take the numerator. For example:
Numerator is 75.0, now simply move the decimal place up to to get the decimal form 0.75.
91% can be changed into a decimal by moving the decimal place left 2 places. 91.0% turns into 0.91.
Now that you can see the numbers, just rearrange them from least to greatest
0.75<0.85<0.91
equal to A