Question

HELPPPP

Write a function that represents the balance after t years.
$2000 deposit that eams 5% annual interest compounded quarterly

Answer 1

Not sure if this is correct but:

Step-by-step explanation: P = 2000

R = 5% = 0.05

n = 4

y = 2000 ( 1 +
`(0.05)/(4)`)
`^(4t)` = 2000 ( 1.0125 )

Substitute values in the compound interest formula:

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

Hope this helps..