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Which of these equations would give you the balance on an account with a principal of $3000 and an interest rate of 8%, compounded quarterly, after 5 years?

A. B=3000(1+.08)5

B. B=3000(1+.08)20

C. B=3000(1+.02)5

D. B=3000(1+.02)20

Mathisfornerds  Mar 11, 2018
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See the answer under your first post. The answe is D., but is written slightly wrong. It should be like this: B =3,000(1 + 0.02)^20 = $4,457.84

Guest Mar 11, 2018

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