Ask Question
21 April, 19:44

Select the formulas that give the amount P in the account after the first period.

a.) P=1.005Po

b.) P=1.02Po

c.) P=Po (0.02/4)

d.) P=Po (4.02/4)

e.) P=Po (1 + 0.02/4)

+4
Answers (1)
  1. 21 April, 20:04
    0
    The amount is calculated by the formula

    P=Po (1+r/100) ^n, where r is the rate of interest, Po is the principal amount and n is the interest period.

    In this case, r = 0.02, p. a

    Therefore, for the first quarter, r = 0.02/4 or 0.005

    Hence the amount after the first quarter or period will be

    P = 1.005Po or

    P = Po (1+0.02/4)

    Hence, the answer is either a or d
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Select the formulas that give the amount P in the account after the first period. a.) P=1.005Po b.) P=1.02Po c.) P=Po (0.02/4) d.) P=Po ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers