Chan deposited money into his retirement account that is compounded annually at an interest rate of 7 % . chan thought the equivalent quarterly interest rate would be 2 % . ls chan correct ? if he is , explain why . if he is not correct , state what the equivalent quarterly interest rate is and show how you got your answer.

 No, He is not correct.

Step-by-step explanation:

Let the total amount deposited = P

Then the Amount in 1 year at the annually compound rate of 7%,

And, the amount in 1 year at the quarterly compound rate of 2%,

 ( By the formula,   )

But,  

Therefore, He is not correct.

use formula for the circle a=3.14

step-by-step explanation:

a

step-by-step explanation: