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1 vote
PLEASE HELP!!!

I don't understand how it works...
if possible, please explain how you got your answer.

Thanks!!!​

PLEASE HELP!!! I don't understand how it works... if possible, please explain how-example-1
User Bysucpmeti
by
5.3k points

1 Answer

4 votes

Answer:

C ($1834.44)

Explanation:

Compound interest formula: P = T (1+ r/100)^t

Where

P is the Total amount of money at the end of the time period

T is the money invested at the start

r is the interest rate

and

t is the time by which interest is compounded

Since interest is compounded quarterly,

r is divided by 4 and T is multiplied by 4

therefore,

Total amount = $1800.00( 1 + 1.9÷4/100) ^1×4

= $1834.44

User Roc Boronat
by
5.5k points
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