01:29:03 Question 22 - of 22 Step 1 of 1 Tyra invests $5300 in a new...

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Answer 1

Answer #1

A = P (1 + (r/n) )^nt

Where,
A= total amount
P= principal or amount of money deposited,
r= annual interest rate
n= number of times compounded per year
t= time in years

Given:
P = 5300, r = 4.4% , n = 4 and t = 5 years

A = 5300 (1 + (0.044 / 4) )^4*5

A = 5300 (1.011)²⁰

A = 6596.28

Hope This Helps!

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Answer 2

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