Quantcast

A community for students. Sign up today!

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

heatherlambert2

  • 2 years ago

Paul deposited $6,460 into a savings account 17 years ago. The account has an interest rate of 4.3% and the balance is currently $13,400.91. How often does the interest compound? daily? monthly?quarterly? or annually?

  • This Question is Closed
  1. sammy90210
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    ask mr.brown!

  2. EncyclopediaKid
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    annually

  3. xartaan
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Your book or teacher probably gave you the formula they want you to use for interest. A good way to tackle this would be, set up the equation using the information you've been given, that is, P,the principal (starting) ammount, and the current amount A, and the interest rate, r=.043. The only variable left is t, time, solving for t is all that you'll need to do.

  4. Not the answer you are looking for?
    Search for more explanations.

    Search OpenStudy
    • Attachments:

Ask your own question

Ask a Question
Find more explanations on OpenStudy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.