Answer:
Amount he must save to earn his goal = $7193.1≅
Step-by-step explanation:
The 5.5% interest is compounded quarterly, hence the compound interest expression is used
A = P(1+r%)ⁿ
A = $26000
P = ?
r = 5.5%
n = 4 x 6 = 24 quarters
P = A ÷ (1+r%)ⁿ = 26000 ÷ (1 + 0.055)²⁴ = 7193.070497956 = $7193.1≅
Answer: The answer is 12.68 units.
Step-by-step explanation:
B. 12,900
C. 12,863.15
D. 12,800
Please don't erase any answers. I really need help