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March 26, 2017

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I don't know how this answer was achieved. Can you take me step by step?

A=1500(1+.043/4)^(4(6)) = $1938.84

  • Algebra - ,

    A=1500(1+.043/4)^(4(6))
    = 1500(1+ .01075)^24
    = 1500(1.01075)^24
    = 1500(1.292557881)
    = 1938.836822
    = $ 1938.84 , dollar values are rounded to the nearest cent.

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