SOLUTION: Darrin deposited $1800 into an account that compounds quarterly at 5%. Which formula could he use to find the balance of his account after4 years? Assume that Darrin does not make

Question 600611: Darrin deposited $1800 into an account that compounds quarterly at 5%. Which formula could he use to find the balance of his account after4 years? Assume that Darrin does not make additional deposits nor does he withdraw any of the funds.
A) A=1800(1-.04/4)^4(4)
B) A=1800(1-.05/4)^4
C) A=1800(1+.5/4)^4(4)
D) A=1800(1+.5/4)^4
E) A=1800(1+.05/4)^4(4)
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Use the formula , where P = 1800, r = 0.05, n = 4, and t = 4 to get

So the answer is choice D
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