After 2 years, an investment of $550 compounded annually at an interest rate r will yield an amount of 550(1 + r)². Write this polynomial in standard form. A) 1,100 + 1,100r B) 302,500 + 605,000r + 302,500r² C) 550 + 1,100r + 550r² D) 550r² + 1,100r + 550 E) 550r² + 550r + 550

Question

Quizplus · Accepted Answer

Using the formula for compound interest, we have:

Final amount = Principal * (1 + rate)^time

Plugging in the given values, we get:

Final amount = 550 * (1 + r)^2

Expanding the square, we get:

Final amount = 550 * (1 + 2r + r^2)

Multiplying through by the coefficient, we get:

Final amount = 550r^2 + 1100r + 550

So the polynomial in standard form is:

550r^2 + 1100r + 550

which matches choice D.

After 2 Years, an Investment of $550 Compounded Annually at an Interest