Dirk entered the following expression into a graphing calculator 13600 * (1+.02/4) ^ (4*12) which of these future values could he have been calculating

Question

Kaitlyn Espinoza

Mathematics

28 August, 13:56

Dirk entered the following expression into a graphing calculator 13600 * (1+.02/4) ^ (4*12) which of these future values could he have been calculating

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Rodney Waters · Answer 1

We are given the expression:

13600 * (1+.02/4) ^ (4*12)

This is the form of the expression in determining the future worth of money. Drik could have been calculating the total amount of money he needed to pay after getting a loan with the following conditions

$13600 loan amount

2% interest compounded quarterly

4 years loan term