Question

Elton opened a compound interest savings account with $5500 in principal and an interest rate of 2.8%. If interest is compounded quarterly, how much is in the account after 4 years?
interest compounded quarterly: A = P (1 + r/4)4t

Answer 1

ok so plug in all the numbers. a= account r= rate p= principal

Answer 2

still kind of confused..

Answer 3

ok so we need to find the account. p= 5500 r =2.8% t=4 plug those numbers in. i would just tell you the answer and them explain, but i got reported for that.

Answer 4

am i making any sense?

Answer 5

i'm not the best at explaining math.

Answer 6

i understand how you plug it in but confused with the little numbers outside of the parenthesis

Answer 7

is there a video i can see with an example, would so help

Answer 8

oh ok, u mean the 4t, right?

Answer 9

yes

Answer 10

when a number is in front of a letter it meansmultiply that number by the letter. the letter is a variable. ex: 4 times t, =4 times 4 because t=4 or if t=5 it would be 4 times 5

Answer 11

i hope i'm helping

Answer 12

Thank you for your help, but I have to see it step by step

Answer 13

ok, sorry wish i could of been more helpful.

Answer 14

If you can possibly plug other numbers in and show the step by step, I would probably be able to catch it

Answer 15

ok A = P (1 + r/4)4t first solve the equation in the ( ) r= 2.8 . 1+ 2.8/4 divide first then add.

Answer 16

1.7

Answer 17

oh and khan academy helps alot.

Answer 18

is that correct, and then I multiplied that 1.7 times 5500 and got 9,350

Answer 19

multiply it again by 4t which is 4 times 4 (16) and it should be right

Answer 20

149,600

Answer 21

A.
$6149.42

B.
$6142.36

C.
$649.42

D.
$642.36

Answer 22

those are the choices

Answer 23

oh wait you need to convert 2.8% . (280+1) times 5500 times 16

Answer 24

wiat 280/4 +1

Answer 25

no im doing something wrong

Answer 26

yea..its confusing..

Answer 27

sorry

Answer 28

how old are you?

Answer 29

8th grade https://www.google.com/search?q=A+%3D+P+%281+%2B+r%2F4%294t+khan+academy&ie=utf-8&oe=utf-8

Answer 30

algebra1 honors class humph

Answer 31

ohh,thats kewl:3 i love anime to btw

Answer 32

too*

Answer 33

cool! what animes are good? sao, attack on titan, seven deadly sins, soul eater are animes i watch.

Answer 34

as well as my little monster, and vimpire knight

Answer 35

I just watch the ones i find on youtube lool

Answer 36

whatch shomin sample (i think) its on youtube and its really good

Answer 37

same, but i also watch netflix.

Answer 38

Same,I need to find good ones on netflix

Answer 39

which ones to you watch on netflix

Answer 40

sao, attack on titan, seven deadly sins, soul eater there was another one but i can't remember the name

Answer 41

sao is Sword Art Online

Answer 42

Sao= epic!!!!!!!! as well as sao 2

Answer 43

you know its good when the make more episodes and seasons

Answer 44

IKR

Answer 45

ya!

Answer 46

oh and is there a website to find animes by their discription, i completly forgot the name of a anime i watched on youtube and now i cant find it.

Answer 47

but i remember the people but not their names which really sucks

Answer 48

do you like webcomics?

Answer 49

btw,how can i gibe you a medal

Answer 50

give*

Answer 51

click on the best response button

Answer 52

thx c:

Answer 53

how can i get to you for help any other time

Answer 54

click on my name and click on become a fan then you can msg me whenever and see when i'm online.

Answer 55

Im now your 17th fan cx

Answer 56

lol