Question

$10,000 is compounded quarterly at 12% interest for t years. what expression represents the amount of money after t years.

Answer 1

$10,000(1+0.12/2)^2t

Explanation:

just took it

Answer 2

we know that

The compound interest formula is equal to

`A=P(1+(r)/(n))^(nt)`

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest in decimal

t is Number of Time Periods

n is the number of times interest is compounded per year

in this problem we have

`t=t\ years\\ P=\$10,000\\ r=0.12\\n=4`

substitute in the formula above

`A=10,000(1+(0.12)/(4))^(4t)`

`A=10,000(1+0.03)^(4t)`

`A=10,000(1.03)^(4t)`

therefore

the answer is

`A=10,000(1.03)^(4t)`