Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
kimdre10
Group Title
If you invest $25,000 in an account that gets 12% annual interest
compounded quarterly, how much would you have in 10 years.
 2 years ago
 2 years ago
kimdre10 Group Title
If you invest $25,000 in an account that gets 12% annual interest compounded quarterly, how much would you have in 10 years.
 2 years ago
 2 years ago

This Question is Closed

cwrw238 Group TitleBest ResponseYou've already chosen the best response.1
start again!: after 10 years amount = 25000(1 + (0.12)/4)^(10*4)
 2 years ago

kimdre10 Group TitleBest ResponseYou've already chosen the best response.0
okay.. so what would that be ?
 2 years ago

cwrw238 Group TitleBest ResponseYou've already chosen the best response.1
this simplifies to 25000(1.03)^40  you can compute that on your calculator
 2 years ago

cwrw238 Group TitleBest ResponseYou've already chosen the best response.1
you should get 81,550.94 dollars
 2 years ago

cwrw238 Group TitleBest ResponseYou've already chosen the best response.1
the general formular is A = P(1 + N/r)^(Nn) where P = principal (starting amount), r = annual rate, N = number of times per year the interest is compounded, and n = number of years
 2 years ago

kimdre10 Group TitleBest ResponseYou've already chosen the best response.0
okay so whats does it look like all finished?>
 2 years ago

cwrw238 Group TitleBest ResponseYou've already chosen the best response.1
well thats it the amount after 10 years is 81,550.94  pretty good rate of interest
 2 years ago
See more questions >>>
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.