Find the required annual interest rate, to the nearest tenth of a percent, for $ 1170 to grow to $ 1708 if interest is compounded quarterly for 6 years.
A) 6.4%
B) 1.6%
C) 3.2%
D) 7.9%

Step-by-step explanation:

The formula you need for this is

where A(t) is the final amount after the compounding is done, P is the initial investment, r is the interest rate in decimal form, n is the number of times per year that the money is compounded, and t is the time in years. Filling in accordingly:

First things first. Simplify by division and then multiply the n by the t to get the exponent:

Divide 1708 by 1170 to get the equation:

Undo the 24th power by taking the 24th root of both sides to get:

Now subtract 1 from both sides to get

Multiply both sides by 4 to finish it off and get that

r = .0635528 but since we want the percentage, we move the decimal 2 places to the right and round to r = 6.4% which is choice A.

a mantle plume is an upwelling of abnormally hot rock within the earth's mantle. as the heads of mantle plumes can partly melt when they reach shallow depths, they are thought to be the cause of volcanic centers known as hotspots and probably also to have caused flood basalts.

step-by-step explanation: