MTH 154 - DOBM Homework: Homework 4B
Score: 0 of 1 pt
22 of 27 (21 complete)
V Score: 777
4.B.63
* Question H
Use the appropriate compound interest formula to compute the balance in the account afte
stated period of time
$14,000 is invested for 6 years with an APR of 5% and quarterly compounding.

  $18,862.91

Step-by-step explanation:

The appropriate formula is ...

 A = P(1 +r/n)^(nt)

where P is the amount invested (14,000), r is the APR (.05), n is the number of times per year interest is compounded (4), and t is the number of years (6).

Filling in the numbers and doing the arithmetic, we get ...

  A = 14,000(1 +.05/4)^(4·6) = 14,000·1.0125^24 ≈ 18,862.91

The balance after 6 years will be $18,862.91.

h who knows

step-by-step explanation:

answer: all the values are within because it has a pattern that repeats from -6 to 4.

good luck!