Evaluate $ 1000 ( 1 + . 045 × 17 12 ) \$ 1000\left(1+.045 imes \frac{17}{12} ight) $1000 ( 1 + .045 × 12 17 ) A) $1,063.75B) $1,416.73C) $1,765.00D) $1,637.50E) $1,480.42

Question

Evaluate   $ 1000 ( 1 + . 045 × 17 12 )  \$ 1000\left(1+.045 	imes \frac{17}{12}ight)  $1000 ( 1 + .045 × 12 17 ​ )  A)  $1,063.75B)  $1,416.73C)  $1,765.00D)  $1,637.50E)  $1,480.42

Lauren Ferguson · Accepted Answer

Final Answer : D, Explanation :   First, calculate the interest rate:   0.045 × 17 12 = 0.06375 0.045 	imes \frac{17}{12} = 0.06375 0.045 × 12 17 ​ = 0.06375  . Then, calculate the total amount:   1000 × ( 1 + 0.06375 ) = 1000 × 1.06375 = 1063.75 1000 	imes (1 + 0.06375) = 1000 	imes 1.06375 = 1063.75 1000 × ( 1 + 0.06375 ) = 1000 × 1.06375 = 1063.75  .

Evaluate $\$ 1000\left(1+.045 \times \frac{17}{12}\right)$

A) $1,063.75
B) $1,416.73
C) $1,765.00
D) $1,637.50
E) $1,480.42

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Learning Objectives

Learning Objectives

Related questions

Evaluate $1000(1+.045×1712) \$ 1000\left(1+.045 \times \frac{17}{12}\right) $1000(1+.045×1217​) A) $1,063.75B) $1,416.73C) $1,765.00D) $1,637.50E) $1,480.42

Definitions

Learning Objectives

Learning Objectives

Related questions

Evaluate $\$ 1000\left(1+.045 \times \frac{17}{12}\right)$

A) $1,063.75
B) $1,416.73
C) $1,765.00
D) $1,637.50
E) $1,480.42