Mathematics, 06.05.2020 23:21 shawn20034
Alexander’s parents are saving for his college fund. They put $8,000 into an interest-bearing account with an annual compound interest rate of 4.5%.
Alexander’s parents want to determine what the balance of his college fund account will be after 12 years.
Which formula would be used for this situation?
A = (8,000 + 0.045)12
A = 8,000(1 + 0.045)12
A = 8,000(1 + 0.12)4.5
A = 8,000 · 0.045 · 12
Answers: 3
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Alexander’s parents are saving for his college fund. They put $8,000 into an interest-bearing accoun...
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