We use cookies to personalise content and advertisements and to analyse access to our website. Furthermore, our partners for online advertising receive pseudonymised information about your use of our website. cookie policy and privacy policy.
 
+0  
 
0
244
1
avatar+129 

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

 Mar 11, 2018
 #1
avatar
0

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

 Mar 11, 2018

28 Online Users