Mathematics, 03.07.2019 11:00 zalliagessnerp5fuj9
Naomi deposited money into a savings account that is compounded quarterly at an interest rate of 6%. she thinks this quarterly rate is the same as a monthly interest rate of 1.25%. is naomi right? if so, explain why and show how you got your answer. is naomi incorrect? if so, explain the mistake in her reasoning, give the correct monthly interest rate, and show how you got your answer. it’s due i’ll make you brainliest.
Answers: 1
-P where r is the rate annually and n is the number of years.
-100 ( here the rate is already given in quarterly)
-100= 1.26247696-100=26.247696 rupees=26(approx)
-P
-100= 100(1.16075452)-100=16.075452=16(approx)
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Naomi deposited money into a savings account that is compounded quarterly at an interest rate of 6%....
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