lywynisaboss1 lywynisaboss1

22-04-2021
Mathematics

contestada

An investment of 8,500 has an annual interest rate of 6.6%...... (Continues in screenshot) (please explain)

An investment of 8500 has an annual interest rate of 66 Continues in screenshot please explain class=

Respuesta :

clarch19 clarch19

22-04-2021

Answer:

C) A = 8500(1.0165)^16

Step-by-step explanation:

A = P(1 + r/n)^nt where 'n' is # times compounded and 't' is time in years

A = 8500(1 + (.066/4))^4·4

A = 8500(1 + 0.0165)^16

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