A Principal of $4000 Is Invested at 8% Interest

question 63

Multiple Choice

A principal of $4000 is invested at 8% interest.Find the amount after 10 years if the interest is compounded quarterly. ​

• A)$8835.16
• B)$8833.16
• C)$8836.16
• D)$8834.16
• E)$8832.16

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Definitions:

Atlantic

The second-largest ocean on Earth, separating the Americas from Europe and Africa.

Huron

A confederation of Native American tribes originally located in the Great Lakes region, known for their agricultural society and involvement in the fur trade.

Iroquois

A historically powerful northeast Native American confederacy known for forming the Iroquois League, which brought together several tribes for strength and diplomacy.

Algonquin

Refers to a group of Native American peoples speaking Algonquian languages and originally living in the North Eastern region of North America.