169k views
4 votes
A principal of $835 is invested in an account at 2% per quarter simple

interest. Which of the following sequences describes the dollar amount of
principal in the account at quarterly intervals?
A. 66.80, 133.60, 200.40, 267.20, 334.00, ...
B. 835.00, 851.70, 868.40,885.10, 901.80, ...
C. 835.00, 901.80, 968.60, 1,035.40, 1,102.20, ...
D. 16.70, 33.40, 50.10, 66.80, 83.50,...
E. 835.00, 851.70, 868.73, 886.11, 903.83, ...

User Lamya
by
5.0k points

1 Answer

3 votes

Answer E

Explanation: The first number is 835 as this is how much you have in the bank to begin with. Work out 2% of 835.

User Imre Raudsepp
by
6.1k points