Find the amount of compound interest earned with a principal rate of $925, rate of 6%, compounded quarterly, for 8 years with a final amount of $1489.55

$564.55

Step-by-step explanation:

#First, we determine the effective annual interest applicable given a 6% rate compounded quarterly:

We know that interest earned is equal to the accumulated value minus the initial investment amount or principal.

-Given the final value is $1489.55 and the initial amount is $925, the interest earned is calculated as;

Hence, the amount of interest earned is $564.55

the answer is:

the correct option:

b.

to solve the problem, we need to remember how to operate to simplify exponential expressions using the logarithms.

we are given the equation:

then, using placing logarith with base 7 on both sides of the equation, we have:

so, rounding the obtained result to two decimal places (nearest hundreth), we have:

hence, we have that the correct option:

b.

have a nice day!

answer: it is 8

step-by-step explanation:

you know why its 8