SOLUTION: Would someone please check my work? The question is which of the following statements does NOT accurately describe an account into which $400 is deposited and earns 6% annual inte

Question 1026745: Would someone please check my work? The question is which of the following statements does NOT accurately describe an account into which $400 is deposited and earns 6% annual interest compounded quarterly?
A. 400(1.015)^4t
B. 400(1+.06/4)^4t
C. 400(1.06/4)^4t
D. none of these (all are accurate)
I chose C as being incorrect. Am I correct? Thanks in advance!
Found 2 solutions by josgarithmetic, MathTherapy:
Answer by josgarithmetic(39617) (Show Source): You can put this solution on YOUR website!
By just the form of the equation, I agree with you. Try taking the description and build the equation using basic principles and find which choices will and will not match.
Answer by MathTherapy(10551) (Show Source): You can put this solution on YOUR website!
Would someone please check my work? The question is which of the following statements does NOT accurately describe an account into which $400 is deposited and earns 6% annual interest compounded quarterly?
A. 400(1.015)^4t
B. 400(1+.06/4)^4t
C. 400(1.06/4)^4t
D. none of these (all are accurate)
I chose C as being incorrect. Am I correct? Thanks in advance!

Your answer's correct. Good job!
Equation:
------ Same as CHOICE B
------- Same as CHOICE A

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