Stephen invests $2,000 in a savings account paying 6% annual interest. find the balance after 5 years if the interest is compounded quarterly.

The balance of Stephen's savings account after 5 years is US$ 2,693.71

Step-by-step explanation:

1. Let's review the data given to us for solving the question:

Investment = US$ 2,000

Annual interest rate = 6% compounded quarterly = 1.5% per quarter

Duration of the investment = 5 years = 20 quarters

2. Let's find the future value of this investment after 5 years or 20 quarters, using the following formula:

FV = PV * (1 + r) ⁿ

PV = Investment = US$ 2,000

rate (r) = 1.5% = 0.015

number of periods (n) = 20

Replacing with the real values, we have:

FV = 2,000 * (1 + 0.015) ²⁰

FV = 2,000 * 1.015 ²⁰

FV = 2,000 * 1.34685501

FV = US$ 2,693.71

the correct answer is b) histograms can be used to exhibit the shape of distributions. this is because histograms count the frequency of each possible answer, so one is able to see which results are more common and which are less common.

step-by-step explanation:

b and c