Question

Which of the following statements could be represented to determine the number ofdollars in the account at the end of 3 years?A = 1500 (1.04)3

Answer 1

The Solution:

The correct answer is [ option 1 ]

Given:

We are required to determine the statement that is represented by the given formula.

Step-by-step explanation:

`A=1500(1.04)^3=1500(1+(4)/(100))^3=P(1+(r)/(100))^n`

From the above equation, we can see that: