Find the amount in the account for the given principal, interest rate, time, and compounding period.Pequals600, requals5%, tequals7 years; compounded quarterly

Solución

Solución

Amount : 849.6

Pasos de solución

Translate the problem into an equation:

A = 600 (1 + \frac{0.05}{4})^{4 \cdot 7}

600 (1 + \frac{0.05}{4})^{4 \cdot 7} = 849.59538 \dots

Round to the nearest hundredth:

849.6

Amount : 849.6

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Find the amount in the account for the given​ principal, interest​ rate, time, and compounding period.Pequals​600​, requals5​%, tequals7 ​years; compounded quarterly

Solución

Solución

Ejemplos populares

Find the amount in the account for the given principal, interest rate, time, and compounding period.Pequals600, requals5%, tequals7 years; compounded quarterly