17. Gloria is saving $4,000 in a savings account that earns an interest rate of 3.1% compounded annually. Which equation should Gloria use to determine how much money will be in her account after 5 years? A. APY = (1+)" – 1 D. F = P(1+r·t) B. APY = e" – 1 E. F= Pe(rt) (n-t) C. F = P(1+=)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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17. Gloria is saving $4,000 in a savings account that earns an interest rate of 3.1%
compounded annually. Which equation should Gloria use to determine how much
money will be in her account after 5 years?
A. APY = (1+)" – 1
D. F = P(1+r·t)
В. АРY 3D e —1
E. F = Pert)
(n-t)
c. F= P (1+)
Transcribed Image Text:17. Gloria is saving $4,000 in a savings account that earns an interest rate of 3.1% compounded annually. Which equation should Gloria use to determine how much money will be in her account after 5 years? A. APY = (1+)" – 1 D. F = P(1+r·t) В. АРY 3D e —1 E. F = Pert) (n-t) c. F= P (1+)
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