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Maile deposited $9,000 into a retirement account whose balance grew 4%per year. She made no further deposits or withdrawals. Which equation calculates A, the account balance, after 7 years? A) A = 9,000 x 1.04^7 B) A = 9,000 x 4^7 C) A = 0.04 x 9,000^7 D) A= 9,000 x 0.04^7

Maile deposited $9,000 into a retirement account whose balance grew 4%per year. She made no further deposits or withdrawals. Which equation calculates A, the account balance, after 7 years? A) A = 9,000 x 1.04^7 B) A = 9,000 x 4^7 C) A = 0.04 x 9,000^7 D) A= 9,000 x 0.04^7

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Maile deposited $9,000 into a retirement account whose balance grew 4%per year. She made no further deposits or withdrawals.

Which equation calculates A, the account balance, after 7 years?

A) A = 9,000 x 1.04^7

B) A = 9,000 x 4^7

C) A = 0.04 x 9,000^7

D) A= 9,000 x 0.04^7

Lorena invests $6,300 in an account that earns an annual interest rate of 5.3% compounded quarterly. What is the value of Lorena's investment after 2 years? O $6,306.68 O $6,999.60 O $7,002.84 $7,766.27
Transcribed Image Text:Lorena invests $6,300 in an account that earns an annual interest rate of 5.3% compounded quarterly. What is the value of Lorena's investment after 2 years? O $6,306.68 O $6,999.60 O $7,002.84 $7,766.27
The value of a single stock in North Coast Pharmaceuticals was $50. The value increased 3% per month for 10 months. Which equation calculates y, the value of the stock after 10 months? O y = 0.03 - 5010 10 y = 50 · 1.03 12 O y = 50 - 1.0310 O y = 50 - 310
Transcribed Image Text:The value of a single stock in North Coast Pharmaceuticals was $50. The value increased 3% per month for 10 months. Which equation calculates y, the value of the stock after 10 months? O y = 0.03 - 5010 10 y = 50 · 1.03 12 O y = 50 - 1.0310 O y = 50 - 310
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