Mathematics, 23.09.2020 14:01, piper64bsj
A $50,000 investment earns 18% annually. If B represents the balance and t represents the number of years, determine an expression that gives the account balance, B, after t years. Also, determine an equivalent expression that displays the effective monthly interest rate.
A) B = 50000(1.18)t; B = 50000(1.14)12t
B) B = 50000(1.18)t; B = 50000(1.014)12t
C) B = 50000(1.018)t; B = 50000(1.14)12t
Eliminate
D) B = 50000(1.18)t; B = 50000(0.014)12t
Answers: 1
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A $50,000 investment earns 18% annually. If B represents the balance and t represents the number of...
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