Question

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

Answer 1

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

Explanation:

Answer 2

A = 1000(1+.034)4t
is what I got