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
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
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
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
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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