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
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-> 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
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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(39616) (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.
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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