MathChic68 MathChic68
  • 19-11-2017
  • Mathematics
contestada

After 6 years, what is the total amount of a compound interest investment of $35,000 at 4% interest, compound quarterly?
Round to the nearest cent.

Respuesta :

lililane847ozmfoi
lililane847ozmfoi lililane847ozmfoi
  • 19-11-2017
1.06^6 * 35000 = $49648.20
1.06 is the mutiplier.
Answer Link
lilsparta lilsparta
  • 19-11-2017
A=P(1+r/100)^6
A=35000(1+1/100)^4×6
A=$44440.7127
A=$44441
Answer Link

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