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anonymous

  • 5 years ago

An initial investment of $12,000 is appreciated for 8 years in an account that earns 12% interest, compounded quarterly. Find the amount of money in the account at the end of the period.

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  1. anonymous
    • 5 years ago
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    The formula for compound interest is P(1+R/N)^(NT)

  2. anonymous
    • 5 years ago
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    p= initial investment r= rate (in your case .08) n= times compounded t= year

  3. anonymous
    • 5 years ago
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    i got 18,900.99. is that right

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