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Answered

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1. Mr. Gunny deposits $4,900 in a savings account that pays 1.5% interest compounded
quarterly.

A1. Find the first quarter's interest.

A2. Find the first quarter's balance.

C. Find the second quarter's interest

D. Find the second quarter's balance.

E. Find the third quarter's interest.

F. Find the third quarter's balance.

1 Mr Gunny Deposits 4900 In A Savings Account That Pays 15 Interest Compounded Quarterly A1 Find The First Quarters Interest A2 Find The First Quarters Balance class=

Sagot :

Answer:

a) 18.38

b) 4918.38

c) 18.44

d) 4936.82

e) 18.51

f) 4955.33

Step-by-step explanation:

Given

A [tex]= 4900[/tex]

r [tex]= \frac{1.5}{100} =0.015[/tex]

m [tex]= 4[/tex]

a)

I1

[tex]= 4900 *( 1 +\frac{0.015}{4})^{4 *\frac{3}{12}} -4900\\= 4918.38-4900\\= 18.38[/tex]

b) [tex]4918.38[/tex]

c)

[tex]= 4918.38 *( 1 +\frac{0.015}{4})^{4 *\frac{3}{12}} -4918.38\\= 4936.82-4918.38\\= 18.44[/tex]

d) [tex]4936.82[/tex]

e)

[tex]= 4936.82 *( 1 +\frac{0.015}{4})^{4 *\frac{3}{12}} -4936.82\\= 4955.33-4936.82\\= 18.51[/tex]

f) [tex]4955.33[/tex]

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