You invest $600 in an account that has a annual interest rate of 7%, compounded quarterly for four years. What is the equivalent interest rate, and how many times will the money be compounded? 1.75% and 1 time
5.7% and 4 times
1.75% and 16 times
5.7% and 16 times

1.75% and 16 times

Step-by-step explanation:

Compound interest formula:

where:

Given:

Substituting given values into the formula:

Equivalent interest rate:

Number of times compounded:

answer: add the !

step-by-step explanation: then we will answer

3/4 ÷ 3/4

step-by-step explanation:

basically divide any proper fraction with itself to fit the criteria.

so if we are using 3/4, then:

3/4 ÷ 3/4 = 1

so 1 is the quotient.

and the numerators for both these fractions is 3.   and if we divide the numerators:

3 ÷ 3 = 1

we see that quotient is equal to our original quotient as well.