Principal Amount = P = $5000
Interest rate = r = 0.45% = 0.0045
Time in years = t
Compounding periods per year = n = 4
The formula for compound interest is:
[tex]A=P(1+ \frac{r}{n})^{n*t} [/tex]
Using the given values, we get:
[tex]A=5000(1+ \frac{0.0045}{4} )^{4*t} \\ \\
A=5000(1.001125)^{4t} [/tex]
So, comparing the above equation to given equation we can write:
a = 5000
b = 1.00113 (Rounded to nearest hundredth-thousandth
c = 4t
