kaydeemyladyy
kaydeemyladyy
02-12-2017
Mathematics
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WojtekR
WojtekR
02-12-2017
We have compound interests, so:
[tex]a_1=600\\\\r=4\%=0.04[/tex]
and:
[tex]A(n)=a_1(1+r)^{(n-1)}\\\\\boxed{A(n)=600(1+0.04)^{(n-1)}}\\\\\\A(5)=600(1+0.04)^{(5-1)}=600(1.04)^{4}=600\cdot1.17\approx\boxed{701.92}[/tex]
Answer B.
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