quarentined11
Answered

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HELPPPP
Write a function that represents the balance after t years.
$2000 deposit that eams 5% annual interest compounded quarterly

Sagot :

Not sure if this is correct but:

Step-by-step explanation: P = 2000

                                             R = 5% = 0.05

                                             n = 4

                                      y = 2000 ( 1 + [tex]\frac{0.05}{4}[/tex]) [tex]^{4t}[/tex] = 2000 ( 1.0125 )

                                       Substitute values in the compound interest formula:

                                        y = P ( 1 + [tex]\frac{r}{n}[/tex])[tex]^{nt}[/tex] .

Hope this helps..                  

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