Loretta deposits $350 every quarter into a savings account that earns 4.5% interest compounded quarterly. what is the balance after 7 years?

a. $10,312.63
b. $11,344.18
c. $11,444.27
d. $12,477.74

9514 1404 393

  C.  $11,444.27

Step-by-step explanation:

The formula for the amount of an annuity is ...

  A = P((1 +r/n)^(nt) -1)/(r/n)

where r is the annual interest rate, compounded n times per year for t years, and P is the payment made in each interval.

Here, we have P=$350, r = 0.045, n = 4, t = 7, so the account balance will be ...

  A = $350((1 +.045/4)^(4·7) -1)/(0.045/4) ≈ $11,444.27

Additional comment

This calculates the balance if the deposit is made at the end of the quarter.

pooopoopopoopop

step-by-step explanati∵∵∴∴on:

answer set (b) 0.5, 3/4 80% is in order from least to greatest.  

step-by-step explanation:

in order to compare rational numbers to each other, it is much easier if they are in the same form.   typically, the best form in which to evaluate rational numbers is in decimals.   in order to convert a percent to a decimal, you would divide the given percentage by 100.   you can also accomplish the conversion by moving the decimal point over two places to the left.   for example, the decimal value of 80% is 80/100, or 0.8.   in order to convert a fraction to a decimal, you need to divide the numerator by the denominator.   for example, 3/4 is 0.75.   so, for choice (b) 0.5 3/4 (0.75), 80% (0.8) is the only choice in which the numbers are in order from least to greatest.