A principal of $835 is invested in an account at 4% per quarter simple interest which of the following sequences describes the dollar amount of principal in the account of quarterly intervals
To solve the question we use the compound interest formula which is given by: A=p(1+r)^(nt) where: A=future value p=principle r=rate n=number of terms t=time thus plugging in the values in the formula we shall have: A=835(1+0.04)^(4t) simplifying this we get the sequence: A=835(1.040)^(4t) Thus the answer to the sequence will be: A=835(1.040)^(4t)
