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Apex Learning - Courses ty/7000001/assessment Pretest Unit 7 Question 2 of 20 At the beginning of year 1 , Jonah invests \( \$ 300 \) at an annual compound interest rate of \( 4 \% \). He makes no deposits to or withdrawals from the account. Which explicit formula can be used to find the account's balance at the beginning of year 6 ? A. \( A(6)=300 \cdot(1+0.04)^{6} \) B. \( A(6)=300 \cdot(1+0.04)^{6-1} \) C. \( A(6)=300+(0.04 \cdot 300)^{6-1} \) D. \( A(6)=300+(6-1)(0.04 \cdot 300) \) SUBMIT

          Apex Learning - Courses
ty/7000001/assessment
Pretest Unit 7

Question 2 of 20

At the beginning of year 1 , Jonah invests \( \$ 300 \) at an annual compound interest rate of \( 4 \% \). He makes no deposits to or withdrawals from the account.

Which explicit formula can be used to find the account's balance at the beginning of year 6 ?
A. \( A(6)=300 \cdot(1+0.04)^{6} \)
B. \( A(6)=300 \cdot(1+0.04)^{6-1} \)
C. \( A(6)=300+(0.04 \cdot 300)^{6-1} \)
D. \( A(6)=300+(6-1)(0.04 \cdot 300) \)
SUBMIT

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Apex Learning - Courses
ty/7000001/assessment
Pretest Unit 7

Question 2 of 20

At the beginning of year 1 , Jonah invests $ 300 at an annual compound interest rate of 4 %. He makes no deposits to or withdrawals from the account.

Which explicit formula can be used to find the account's balance at the beginning of year 6 ?
A. A(6)=300 ·(1+0.04)^6
B. A(6)=300 ·(1+0.04)^6-1
C. A(6)=300+(0.04 · 300)^6-1
D. A(6)=300+(6-1)(0.04 · 300)
SUBMIT

Added by Anna R.

Elementary and Intermediate Algebra

Alan S. Tussy, R. David Gustafson 5th Edition

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Solved by Expert Dj Tan

Step 1

We need to find the explicit formula for the balance of an account at the beginning of year 6, given that Jonah invests $300 at an annual compound interest rate of 4% at the beginning of year 1, with no further deposits or withdrawals. Show more…

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Apex Learning - Courses ty/7000001/assessment Pretest Unit 7 Question 2 of 20 At the beginning of year 1 , Jonah invests \( \$ 300 \) at an annual compound interest rate of \( 4 \% \). He makes no deposits to or withdrawals from the account. Which explicit formula can be used to find the account's balance at the beginning of year 6 ? A. \( A(6)=300 \cdot(1+0.04)^{6} \) B. \( A(6)=300 \cdot(1+0.04)^{6-1} \) C. \( A(6)=300+(0.04 \cdot 300)^{6-1} \) D. \( A(6)=300+(6-1)(0.04 \cdot 300) \) SUBMIT

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