Step-by-step explanation:
1:d
2:c
3:a
4c
5:b
i think so
2. y=12000(.06)4x<span>
3. y=300(.08)5x
Hope this helps</span>
Answer:
38,340
Step-by-step explanation:
you take 6% of 27000 and multiply it by 7 years and then add the original 27,000
Answer:
No, equivalent quarterly rate will be approx 1.75%
Step-by-step explanation:
Given that Chan deposited money into his retirement account that is compounded annually at an interest rate of 7%.
We know that there are 4 quarters in 1 year.
So to find that equivalent quarterly we will divide given yearly rate by number of quarters.
That means divide 7% by 4.
which gives 1.75%.
But that is different than Chan's though of 2% quarterly interest.
Hence Chan is wrong.
