16-04-2021
Mathematics

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620 is invested in an account earning 5.5%interest APR, compounded quarterly. Write a function showing the value of the account after t years

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Aliwohaish12 Aliwohaish12

16-04-2021

Answer:

Y=620×((1+(0.055÷4))^(4t)

Step-by-step explanation:

Y=X ((1+(r/n))^(nt)

Y future value

X present value 620

R interest rate 0.055

N compound quarterly 4

T time

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