calculus 1

[paper imp]

this is the easiest question but I keep getting it wrong. what am i dojng wrong

[sleek crater]

Do you know the formula for compound interest

[paper imp]

is it A= P(1+(rn/))^nt

[sleek crater]

Correct enough

So

For the first question

How did you attempt to use this formula

So we have
$A=P(1+\frac{r}{n})^{nt}$

[small ocean]

denzio321

[sleek crater]

For the first question it says we want accumulated amount of 10000

So we set A to 10000

$10000=P(1+\frac{r}{n})^{nt}$

[small ocean]

denzio321

[sleek crater]

Then the interest rate is 2.5%=0.025

$10000=P(1+\frac{0.025}{n})^{nt}$

[small ocean]

denzio321

[sleek crater]

Then since this is compounded quarterly n = 4

And t is 4 for the 4 years

Then you can solve for P