Question

find the balance in the account after the given period $500 principal earning 4% compound quarterly after 6 years

Answer 1

Answers

1. b

2. d

3. b

4. b

5. a

6. c

7. b

8. b

9. b

10. d

11. b

12. c

Answer 2

A=P(1+r/100)^n
A=500(1+4/400)^24
A=500(1.01)^24
A=634.87