popt9710
31.03.2020 •
Mathematics
12) Melissa deposited $1,500.00 in an account that pays 6.5% interest compounded
quarterly. About what will the balance be in 7 years?
Equation:
A) $2,356.00
B) $937.00
C) $49,943.00
D) $21.00
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Ответ:
A) $2356.00
Step-by-step explanation:
Principal, p = $1,500.00
Interest rate, r= 6.5%
Period, t = 7 years
compounded quarterly therefore, n = 4
Amount, A = P( 1 + r/n)^ n*t
A = 1500 ( 1 + 0.065/4)^ 4*7
A = 1500( 1 + 0.016)^28
A = 1500 ( 1.016) ^28
A = 1500 * 1.57
A = $2356.00
Ответ: