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OpenStudy (anonymous):
Andrea's savings account has a balance of $169. After 2 years, what will the amount of interest be at 12% compounded quarterly? Would the set up be: A=169(1+.12/4)^8?
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OpenStudy (here_to_help15):
hopes this help :P http://www.algebra.com/algebra/homework/absolute-value/absolute-value.faq.question.590334.html
OpenStudy (here_to_help15):
@xlilly ?
OpenStudy (gorv):
compounded quarterly means rate = rate/4
OpenStudy (gorv):
time = time*4
OpenStudy (anonymous):
iknow how to solve it just wasnt sure of the setup.. so then after tht i subtract my answer-169 to get the interest ?
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OpenStudy (gorv):
yeah your setup is right
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