Mathematics, 03.06.2021 16:30 abolton04

3. Derrick wants to calculate the interest he would earn from investing $400 into an account that earns 5.5% annual compound interest for 60
months. Which of the following formulas is set up correctly to help him
do this?
A. A = 400(1+5.5)
B. A = 400(1+5.5)5
C. A = 400(1+.055)60
D. A = 400(1+.055)5

Answers: 3

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3. Derrick wants to calculate the interest he would earn from investing $400 into an account that earns 5.5% annual compound interest for 60 months. Which of the following formulas is set up correctly to help him do this? A. A = 400(1+5.5) B. A = 400(1+5.5)5 C. A = 400(1+.055)60 D. A = 400(1+.055)5

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3. Derrick wants to calculate the interest he would earn from investing $400 into an account that earns 5.5% annual compound interest for 60
months. Which of the following formulas is set up correctly to help him
do this?
A. A = 400(1+5.5)
B. A = 400(1+5.5)5
C. A = 400(1+.055)60
D. A = 400(1+.055)5