Asked by M
Write a compount interest function to model each situation. Then find the balance after the given number of years
$27,000 invested at a rate of 3.75% compounded quarterly; 3 years
$27,000 invested at a rate of 3.75% compounded quarterly; 3 years
Answers
Answered by
Reiny
i = .0375/4 = .009375
n = 3(4) = 12
amount = 27000(1.009375)^12 = ....
n = 3(4) = 12
amount = 27000(1.009375)^12 = ....
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