Respuesta :
We are given the expression:
13600*(1+.02/4)^(4*12)
This is the form of the expression in determining the future worth of money. Drik could have been calculating the total amount of money he needed to pay after getting a loan with the following conditions
$13600 loan amount
2% interest compounded quarterly
4 years loan term
13600*(1+.02/4)^(4*12)
This is the form of the expression in determining the future worth of money. Drik could have been calculating the total amount of money he needed to pay after getting a loan with the following conditions
$13600 loan amount
2% interest compounded quarterly
4 years loan term
Answer:
The answer is the future value of $13,600 invested at 2% interest compounded quarterly for 12 years.
Step-by-step explanation: