7
QuizMultiple Choice

Types of Compound Interest — Quiz

Question 7 • Financial Math

Shaniya puts $5,000 into a certificate of deposit with a 2.5% annual interest rate, compounded quarterly. What will the balance be after 1.25 years? A=P⁢(1+(r)/(n))^n⁢t

Answer
A
6 dollars comma 770 point 4 1
B
5 dollars comma 158 point 2 2
C
5 dollars comma 015 point 1 8
D
5 dollars comma 001 point 5 6
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Shaniya puts $5,000 into a certificate of…