A. Convert 39/7 to a mixed number

Mathematics

1 answer:

saul85 [17]3 years ago

3 0

The answer to this question is A). 39 b). 56

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3 years ago

A man invests $2000 in an account that pays 6.5% interest per year, compounded quarterly.

skelet666 [1.2K]

Answer:

The correct answer is a. $2275.28; b. 17.04 years

Step-by-step explanation:

Principal to be invested is $2000

Interest rate (r) per year is 6.5 quarterly.

Interest is calculated compoundly.

a. Time (t) for the investment is given to be 2 years.

Amount after two years is = Principal × $( 1+ \frac{r}{100n}) ^ {nt}$ where the value of n is 4.