Use the Compound Interest Formulas A $$A = P \left( 1 + \frac { r } { n } \right) ^ { n t }$$

question 71

Multiple Choice

Use the compound interest formulas A $$A = P \left( 1 + \frac { r } { n } \right) ^ { n t }$$ and A = Pert to solve.
-Find the accumulated value of an investment of $1800 at 8% compounded quarterly for 2 years.

• A) $1872.72
• B) $2099.52
• C) $2088.00
• D) $2108.99

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Definitions:

Thousandth

A unit or measure representing one part in a thousand of something.

Liter

A metric unit of volume equal to 1000 cubic centimeters or approximately 0.26 U.S. gallons.

Root

The section of a plant that is usually found beneath the soil, responsible for absorbing water and nutrients.

Prefix

An affix placed before a word to modify its meaning, such as re-, un-, or anti-.