Question

WILL MEDAL AND FAN!!! <<33
Chelsea has a savings account that pays 6% interest, compounded monthly, and she has made no deposits or withdrawals since opening the account. She receives monthly statements via e-mail, and the statement she just received reported a balance of $800.00. Assuming that she has had the account open for over two months, what was the balance on the previous statement to the nearest cent?
A) $754.72
B) $761.90
C) $795.23
D) $796.02

Answer 1

@Janu16 @mathwizzard3 @Kitten_is_back

Answer 2

@Zarkon @Liv1234 @Serenity74 @flexastexas @Jaynator495

Answer 3

@Directrix @emmagrace231 @Qwertty123 @YumYum247

Answer 4

I think it is C

Answer 5

= 0.005, and for this reason, since the statement Chelsea just received reported a balance of $800.00, the previous statement must have reported a balance of \[\frac{ 800 }{ 1+0.005 }=796.02\]

Answer 6

no its D

Answer 7

thankm you!

Answer 8

np

Answer 9

Yup it is D! :D Sorry I logged off when you tagged me...

Answer 10

It's alright :)