-UIVIT UUNNU INTEREST
tartedApr 1 at 12:55pm
Quiz Instructions
Question 4
2 pts
Dominic invested $4,000 into an account that earns 3% interest
compounded quarterly. How much money will be in the account after 20
years?

Step-by-step explanation:

Principal, P = $4,000

Interest rate, r = 3% = 0.03

Period, t = 20 years

Number of times compounded in a year = 4

Amount , A = P( 1 + r/n)^tn

A = 4000( 1 + 0.03/4)^4*20

A = 4000( 1 + 0.0075) ^80

A =4000( 1.0075) ^80

A = 4000* 1.818

A = $7272.18

1. 3. can also be expressed as (22/7)

2. -4.5

3. 3.6

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step-by-step explanation:

because 1/3 is a fraction. we can tell because there is a divisor symbol between the 1 and the 3. if we were to add 2 fractions together, we would add the numerators, which is the number on top, but not the denominators, which is the number on the bottom

1/3+1/3=2/3

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