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TheJag18:
(Compound Interest and Geometric Sequences LC) The equation A equals P quantity 1 plus 0.06 over 4 end quantity all raised to the power of 4 times t represents the amount of money earned on a compound interest savings account with an annual interest rate of 6% compounded quarterly. If after 15 years the amount in the account is $16,497.06, what is the value of the principal investment? Round the answer to the nearest hundredths place. $13,195.22 $9,744.88 $6,752.18 $4,384.00
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Deadshot:
$6,752.18
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