Keira wants to invest $4,300 in an account with an interest rate of 7.2% that is compounded MONTHLY. Which of the following choices will correctly calculate the amount of money in Keira's account after 9 years? O A. Amount =4300x 7.2×e

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6th Edition
ISBN:9781337671743
Author:BESLEY
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Chapter4: Time Value Of Money
Section: Chapter Questions
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QUESTION 8
Keira wants to invest $4,300 in an account with an interest rate of 7.2% that is compounded MONTHLY. Which of the following choices
will correctly calculate the amount of money in Keira's account after 9 years?
9
O A. Amount = 4300x 7.2xe
B. Amount = 0.072x9xe4300
C.
12x9
7.2
Amount = 4300 1+ )
12
O D. Amount = 4300e0.072 x 9
12 x9
O E.
Amount = 4300 1+
0.072
12
O F. Amount = 4300e7.2x 9
Transcribed Image Text:QUESTION 8 Keira wants to invest $4,300 in an account with an interest rate of 7.2% that is compounded MONTHLY. Which of the following choices will correctly calculate the amount of money in Keira's account after 9 years? 9 O A. Amount = 4300x 7.2xe B. Amount = 0.072x9xe4300 C. 12x9 7.2 Amount = 4300 1+ ) 12 O D. Amount = 4300e0.072 x 9 12 x9 O E. Amount = 4300 1+ 0.072 12 O F. Amount = 4300e7.2x 9
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