Tamira invests $5,000 in an account that pays 4% annual interest. How much will there be in the account after 3 years if the interest is compounded annually, semi-annually, quarterly, or monthly?

Step-by-step explanation:

For an initial amount P invested at compound interest for a number of years, n compounded at a rate r% periodically with period, k:

Amount

For the given problem:

P=$5,000; r=4%-=0.04, n=3 years

Annually

k=1

Amount

Semi-Annually

k=2

Amount

Quarterly

k=4

Amount

Monthly

k=12

Amount

in mathematics, a function is a relationship between two variables such that the value of one of the variables, called the dependent variable, is determined by the value of the other variable, called the independent variable. there is a specific term we use to describe the set of independent variables of a function.

594 square inches

step-by-step explanation:

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