8
QuizMultiple Choice
Compound Interest
Question 8 • POP Financial Math 26/27
Porsha calculates the amount of money she will have at the end of 6 years on a $5,000 investment earning 3.75% interest compounded quarterly. She writes the following expression: Which of the following statements about Porsha's expression is true?
Answer
A
Porsha's expression is correct.B
Porsha's expression should have 1 + 0.009375 in the parentheses.C
Porsha's expression should have an exponent of 6, not 24.D
Porsha's expression should have both 1 + 0.009375 in the parentheses and an exponent of 6.