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Michelle invests $1000 at a bank offering 3% compounded quarterly. Write an equation to model the growth of the investment. A) A = 1000(1.03)4t B) A = 1000(1+.03 4 )t C) A = 100…

Michelle invests $1000 at a bank offering 3% compounded quarterly. Write an equation to model the growth of the investment. A) A = 1000(1.03)4t B) A = 1000(1+.03 4 )t C) A = 100…
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Michelle invests $1000 at a bank offering 3% compounded quarterly. Write an equation to model the growth of the investment.

A) A = 1000(1.03)4t
B) A = 1000(1+.03
4
)t
C) A = 1000(1+.03
4
)4t
D) A = 1000((1.03)
4
)4t

User Artspb
by
8.0k points

2 Answers

3 votes

Answer:

C.
1000( (1+.03)/(4))^(4t)

Explanation:

User Pata Kusik
by
8.5k points
4 votes
A = 1000(1+.034)4t
is what I got
User Arthur Gouveia
by
7.8k points
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