Select the formulas that give the amount P in the account after the first period.
a.) P=1.005Po
b.) P=1.02Po
c.) P=Po(0.02/4)
d.) P=Po(4.02/4)
e.) P=Po(1+ 0.02/4)

The amount is calculated by the formula
P=Po(1+r/100)^n, where r is the rate of interest, Po is the principal amount and n is the interest period.
In this case, r = 0.02, p.a
Therefore, for the first quarter, r= 0.02/4 or 0.005
Hence the amount after the first quarter or period will be
P= 1.005Po or
P= Po(1+0.02/4)
Hence, the answer is either a or d

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Select the formulas that give the amount P in the account after the first period. a.) P=1.005Po b.) P=1.02Po c.) P=Po(0.02/4) d.) P=Po(4.02/4) e.) P=Po(1+ 0.02/4)

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Select the formulas that give the amount P in the account after the first period.
a.) P=1.005Po
b.) P=1.02Po
c.) P=Po(0.02/4)
d.) P=Po(4.02/4)
e.) P=Po(1+ 0.02/4)