Answer :
Answer:
The answer is the third equation. A = 250*(1 +0.016)^(0.75)
Step-by-step explanation:
Since Javier deposited $250 into an account with annual interest rate, then as the years passes his account will grow in the manner shown below:
account(0) = 250
account(1) = account(0)*(1 + 1.6/100) = account(0)*(1 + 0.016) = account(0)*1.016
account(2) = account(1)*1.016 = account(0)*1.016*1.016 = account(0)*(1.016)²
account(3) = account(2)*1.016 = account(0)*(1.016)²*1.016 = account(0)*(1.016)³
account(n) = account(0)*(1.016)^n
Where n is the number of years, account(0) is the initial amount. In this case only 9 months have passed, so we need to convert this value to years, dividing it by 12, which is 9/12 = 0.75. The initial amount was 250, so the equation is:
A = 250*(1.016)^(0.75)
The answer is the third equation.
Answer:
[tex]A = 250(1+0.016)^{0.75}[/tex]
Step-by-step explanation:
The equation that represents the balance is expressed using the formula
[tex]A = P(1+r)^{n} \\[/tex]
A is the amount after 9 months
P is the principal (amount deposited)
r is the interest rate
n is the time
Given P = $250, r = 1.6% = 0.0016, t = [tex]\frac{9}{12}\ years[/tex] (months converted to years)
Substituting the values into the formula we have;
[tex]A = 250(1+0.016)^{\frac{9}{12} }\\A = 250(1+0.016)^{0.75}[/tex]
This gives the required answer