Amy invested $3000 in a bank account at an interest rate of 5.1% per annum, compounded quarterly. The effective rate of interest for her investment is closest to单项选择题
A
A. 5.1%
B
B. 1.3%
C
C. 5.2%
D
D. 20.4%
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If $2500 is placed in an account which pays 7% per annum, compounding annually, then the balance in the account after n years is calculated by:
Question textAnswer the following questions by filling in the blanks. Don't use any spaces, commas or "$" signs. Give answers as fractions using the forward slash (e.g. 1/2 or 3/4) if the answer is not an integer. Do NOT use brackets unless specified. Use - for any negatives. [Total: 4+3 = 7 marks]Lin receives a performance bonus at work of $2700. She is considering investing the money, and has seen the following accounts advertised: a. Determine the value of her investment after 6 years by completing the following steps. (4 marks) i. in TownBank? Total interest [math: I=] $Answer 1 Question 6[input]Total amount [math: A=] $Answer 2 Question 6[input]ii. in MetroBank?Total amount is [math: A=] $[math: 2700×][math: R 6], where the value of [math: R] is Answer 3 Question 6[input]Therefore [math: A], correct to 2 decimal places is $Answer 4 Question 6[input] b. Lin would like to buy a new bed worth $3500. How many years will it take until her savings reach this target in TownBank? (3 marks) Interest required is [math: I=]$Answer 5 Question 6[input] The value for [math: T] to 2 decimal places is Answer 6 Question 6[input] Therefore the least exact number of years Lin will have to wait is Answer 7 Question 6[input] years.Please answer all parts of the question.
Question textAnswer the following questions by filling in the blanks. Don't use any spaces, commas or "$" signs. Give answers as fractions using the forward slash (e.g. 1/2 or 3/4) if the answer is not an integer. Do NOT use brackets unless specified. Use - for any negatives. [Total: 4+3 = 7 marks]Lin receives a performance bonus at work of $2700. She is considering investing the money, and has seen the following accounts advertised: a. Determine the value of her investment after 6 years by completing the following steps. (4 marks) i. in TownBank? Total interest [math: I=] $Answer 1 Question 6[input]Total amount [math: A=] $Answer 2 Question 6[input]ii. in MetroBank?Total amount is [math: A=] $[math: 2700×][math: R 6], where the value of [math: R] is Answer 3 Question 6[input]Therefore [math: A], correct to 2 decimal places is $Answer 4 Question 6[input] b. Lin would like to buy a new bed worth $3500. How many years will it take until her savings reach this target in TownBank? (3 marks) Interest required is [math: I=]$Answer 5 Question 6[input] The value for [math: T] to 2 decimal places is Answer 6 Question 6[input] Therefore the least exact number of years Lin will have to wait is Answer 7 Question 6[input] years.
If $2500 is placed in an account which pays 7% per annum, compounding annually, then the balance in the account after n years is calculated by:
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