Asked by Markus
Meghan deposited $2,500in an account at a bank that pays 16% compounded quarterly. Use the compound interest table to find the interest earned on the investment after 2 years.
a. $921.43
b. $204
c. $2,704
d. $3,421.43
**This is a sample question** (Please Help!)
a. $921.43
b. $204
c. $2,704
d. $3,421.43
**This is a sample question** (Please Help!)
Answers
Answered by
Reiny
i = .16/4 = .04
n = 4(2) = 8
amount = 2500(1.04)^8 =3421.42
your textbook still has tables???
how old is this?
n = 4(2) = 8
amount = 2500(1.04)^8 =3421.42
your textbook still has tables???
how old is this?
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