Investing $5,000 in a savings account at 1% annual interest compounded quarterly will result in approximately how much money after 2 years? Use the formula: A = P(1 + )" $5,100.00 $5, 100.50 $5,075.47

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Denis Barushev asked Aug 28, 2023

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Investing $5,000 in a savings account at 1% annual interest compounded quarterly will result in approximately how much money after

2 years?
Use the formula: A = P(1 + )"
$5,100.00
$5, 100.50
$5,075.47
$5, 100.88

Mathematics
high-school

Denis Barushev asked Aug 28, 2023

by Denis Barushev

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16 votes

Answer:

B. 5,100.5

Explanation:

5000(1+.01)^2 = 5100.5

Ajith P Mohan answered Sep 3, 2023

by Ajith P Mohan

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