MATH SOLVE

4 months ago

Q:
# Find the balance in the account. $2,500 principal earning 4%, compounded quarterly, after 4 yearsA. $40,000.00B. $41,600.00C. $2,924.65D. $2,931.45

Accepted Solution

A:

Hello there,

A(4) = 2500(1.01)^16

----

A(4) = 2500*1.1726

----

A(4) = $2931.45

Hope this helps!

A(4) = 2500(1.01)^16

----

A(4) = 2500*1.1726

----

A(4) = $2931.45

Hope this helps!