Exponential Models
in Algebra 1 Answers by

Your answer

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.
Anti-spam verification:
To avoid this verification in future, please log in or register.

1 Answer

2% annually is 0.5% (0.005) quarterly. So the growth rate is 1.005¹²=1.06168 approx.

Apply this to $6000 and we get $6370.07.

by Top Rated User (599k points)

Related questions

Welcome to MathHomeworkAnswers.org, where students, teachers and math enthusiasts can ask and answer any math question. Get help and answers to any math problem including algebra, trigonometry, geometry, calculus, trigonometry, fractions, solving expression, simplifying expressions and more. Get answers to math questions. Help is always 100% free!
81,952 questions
86,346 answers
2,238 comments
71,629 users