-medal given & expression below-
Porsha calculates the amount of money she will have at the end of 6 years on a $5,000 investment earning 3.75% interest compounded quarterly. She writes the following expression:

Which of the following statements about Porsha's expression is true?
a.
Porsha's expression is correct.
b.
Porsha's expression should have 1 + 0.009375 in the parentheses.
c.
Porsha's expression should have an exponent of 6, not 24.
d.
Porsha's expression should have both 1 + 0.009375 in the parentheses and an exponent of 6.

Question

-medal given & expression below- 
Porsha calculates the amount of money she will have at the end of 6 years on a $5,000 investment earning 3.75% interest compounded quarterly. She writes the following expression:

Which of the following statements about Porsha's expression is true?
a.
Porsha's expression is correct.
b.
Porsha's expression should have 1 + 0.009375 in the parentheses.
c.
Porsha's expression should have an exponent of 6, not 24.
d.
Porsha's expression should have both 1 + 0.009375 in the parentheses and an exponent of 6.

anonymous · Answer

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mathmale · Answer

K-Boo:  I'd suggest you look up the formula for compound interest and then try solving the problem yourself.  With your own result in hand, it'd be relatively easy to choose the correct one of these multiple "answers."