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OpenStudy (stylesprettygirl):
Can anyone help me with compounded interest quarterly and a few other simple interest questions any explaining would help me a lot need help asap
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OpenStudy (stylesprettygirl):
Thomas opened a savings account with an annual interest rate of 7% and an initial deposit of $5000. If his interest is compounded quarterly, how much is in Thomas’s account after 4 years? Round your answer to the nearest cent. interest compounded quarterly: A = P (1 +fraction numerator r over denominator 4 end fraction)4t a=5000(1+7/4)^4x4
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