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Yakvenalex [24]

3 years ago

9

you deposit 200 into an account that pays 7% interest compounded quarterly. how much will you have in 5 years

1 answer:

scoray [572]3 years ago

8 0

First, convert R percent to r a decimal
r = R/100
r = 7%/100
r = 0.07 per year,

Then, solve our equation for A
A = P(1 + r/n)nt
A = 200.00(1 + 0.005833333/12)(12)(5)
A = $ 283.53

Summary:
The total amount accrued, principal plus interest,
from compound interest on an original principal of
$ 200.00 at a rate of 7% per year
compounded 12 times per year
over 5 years is $ 283.53.

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IgorC [24]

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Step-by-step explanation:

Let the numbers be x,y, where x>y

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l

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Vinvika [58]

Your answer is A, since there is a variable and two numbers, two numbers is the binomial part. Hope this helped!

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