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Author Question: Rikki deposited 5,000 into an account with an interest rate of 6 for 7 years. If the interest is ... (Read 108 times)

joblessjake

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  • Posts: 555
on: Jun 24, 2018
Rikki deposited 5,000 into an account with an interest rate of 6 for 7 years. If the interest is compounded quarterly, how many compounding periods are there?
 A) 1 period
  B) 7 periods
  C) 14 periods
  D) 28 periods

Question 2

What is the compound interest earned at the end of a 3-year period on a loan with an original principal of 4,500 at 6.75 compounded annually?
 A) 303.75
  B) 628.00
  C) 911.25
  D) 974.14


tennis14576

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Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

D


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joblessjake

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Reply #2 on: Jun 24, 2018
Correct answers!


tennis14576

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Reply #3 on: Jun 24, 2018
Great! Please up vote :D


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