Richard C. answered 07/11/22
Confidence-building Trigonometry tutor with 18 years experience

Richard C.
07/11/22
Ariel I.
asked 07/11/22A bank features a savings account that has an annual percentage rate of r=4.5r=4.5% with interest compounded quarterly. Zeke deposits $10,000 into the account.
The account balance can be modeled by the exponential formula S(t)=P(1+rn)ntS(t)=P(1+rn)nt, where SS is the future value, PP is the present value, rr is the annual percentage rate written as a decimal, nn is the number of times each year that the interest is compounded, and tt is the time in years.
(A) What values should be used for PP, r, and nn?
P=P= Correct, r=r= , n=n=
(B) How much money will Zeke have in the account in 9 years?
Answer = $ .
Round answer to the nearest penny.
Richard C. answered 07/11/22
Confidence-building Trigonometry tutor with 18 years experience
Richard C.
07/11/22
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Ariel I.
THAK YOU07/11/22