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| rev | Admin | (Created page with "'''Solution: B''' Let j equal the quarterly rate and let k equal the four-year rate: <math display = "block"> \begin{aligned} & 300=\frac{1}{j}(1+j) \\ & j=\frac{1}{299} \\ & \left(1+\frac{1}{299}\right)^4=(1+k)^{\frac{1}{4}} \\ & k=0.054875 \\ & 300=\frac{X(1+k)}{k} \\ & X=15.61\end{aligned} </math> {{soacopyright | 2023 }}") | Nov 18'23 at 19:43 | +330 |