Ask Question
24 August, 05:36

1 - 500 principal earning 4% compounded quarterly, after 6 year.

A - 1.281.65

B - 634.87

C - 709.26

D - 632.66

2 - 3500 deposit earning 6.75% compounded monthly, after 6 months.

A - 3,619.80

B - 3,743.70

C - 3,748.22

D - 4,860.36

+1
Answers (1)
  1. 24 August, 05:49
    0
    You'll have $634.87 after 6 years at 4% compounded quarterly, thus B:

    You'll have $3,619.80 after 6 months at 6.75% compounded monthly, thus A:

    Formulas where n = 1 (compounded once per period or unit t)

    1. Calculate Accrued Amount (Principal + Interest) A = P (1 + r) ^t

    2. Calculate Principal Amount, solve for P. P = A / (1 + r) ^t

    4. Calculate the rate of interest in decimal, solve for r. r = (A/P) 1 / (^t - 1)

    5. Calculate rate of interest in percent ... Calculate time, solve for t.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “1 - 500 principal earning 4% compounded quarterly, after 6 year. A - 1.281.65 B - 634.87 C - 709.26 D - 632.66 2 - 3500 deposit earning ...” 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