Mariah is putting $5,270 into an account earning 3.75% interest compounded quarterly. she estimates that it will take just over 9 years for this investment to grow to $8,000. which of the following is a true statement?

a.
mariah’s estimate of the time is too low.
b.
mariah’s estimate of the time is correct.
c.
mariah’s estimate of the time is too high.
d.
mariah does not have enough information to estimate the time.

A. Mariah’s estimate of the time is too low.

Step-by-step explanation:

Here, the principal amount, P = $ 5270,

Annual rate of interest, r = 3.75 %,

Time, t = 9 years,

Number of quarters in 1 year, n = 4,

The amount after 9 years, compounded quarterly,

Since, $ 7373.98 < $ 8,000.

Thus, his estimated time is too low,

⇒ Option 'A' is correct.

easy math just plug in a and b

step-by-step explanation:

answer: since the question is talking about growth you have to use the growth formula which is inital amount (1 + growth)^time

step-by-step explanation:

the intial amount is 1200, the growth is 4.8, and the time is 7. plug those numbers into the equation, also i think you have to change 4.8 into a percent. but, i have forgotton how to do that. if this is a online class go on to the lesson.