William deposited $5,375 into an account that earns 6.2% interest compounded annually. Assuming he makes no other deposits or wi

Question

William deposited $5,375 into an account that earns
6.2% interest compounded annually. Assuming he
makes no other deposits or withdrawals, which of the
following is the closest to the value of his account after
36 months?
A. $6,438.02
B. $46,866.34
C. $11,813.02
D. $1,063.02

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Khải Quang 1 year 2021-09-03T20:53:55+00:00 2 Answers 18 views 0

Answers ( )

  1. Giakhanh
    0
    2021-09-03T20:55:01+00:00
    Reply

    Answer:

    I’m pretty sure its D if not I’m sry

  2. Xavia
    0
    2021-09-03T20:55:37+00:00
    Reply

    Answer:

    A

    Step-by-step explanation:

    Compound interest is p (1+r)^T

    5,375(1+0.062)^3 = 6,438.02

    You have to convert the months into years.

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