Javier deposited $250 into a savings account with an interest rate of 1.6%. He made no deposits or withdrawals for 9 months. If interest was compounded annually, which

equation represents the balance in the account after 9 months?

A = 250 (1 - 0.016) ^9

A = 250 (1 + 0.0016) ^9

A = 250 (1 + 0.016) ^0.75

A = 250 (1 - 0.016) ^0.75

Question

Olivia Espinoza

12 May, 10:10

+1

Answers (1)

Know the Answer?

Jonas · Answer 1

A = 250 (1 + 0.016) ^0.75.

Step-by-step explanation:

9 months = 0.75 years

So A = 250 (1 + 0.016) ^0.75.