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nbaarubyy
20.03.2020 •
Mathematics
If you invest $5,000 at 1.8 percent for 5 years, compounded quarterly, what is the amount in the
account at the end of 5 years?
A. $5,450
B. $5,469
C. $5,470
D. $5,560
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Ответ:
C. $5,470
Step-by-step explanation:
We would apply the formula for determining compound interest which is expressed as
A = P(1 + r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount deposited
From the information given,
P = $5000
r = 1.8% = 1.8/100 = 0.018
n = 4 because it was compounded 3 times in a year(12/4 = 3 times)
t = 5 years
Therefore,
A = 5000(1 + 0.018/4)^4 × 5
A = 5000(1 + 0.0045)^20
A = 5000(1.0045)^20
A = $5470 to the nearest whole number
Ответ:
3*(5/4n) + 3*1.8 = 3.75n + 5.4,