A community for students.

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

anonymous

  • one year ago

Annette opened a compound interest savings account with $7000 in principal and an interest rate of 2.5%. If interest is compounded annually, how much is in the account after 8 years? interest compounded quarterly: A = P (1 + r)t A. $8544.50 B. $8528.82 C. $1544.50 D. $1528.82

  • This Question is Closed
  1. kropot72
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    The question has two different compounding periods. The first period mentioned is "annually" and the second to be mentioned is "quarterly". Please clarify the question.

  2. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    it doesnt say......

  3. kropot72
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Well, there will be two different answers depending on which compounding period is used. I suggest that you ask your teacher to clarify the question.

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

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy

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.