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kimdre10
 3 years ago
If you invest $25,000 in an account that gets 12% annual interest
compounded quarterly, how much would you have in 10 years.
kimdre10
 3 years ago
If you invest $25,000 in an account that gets 12% annual interest compounded quarterly, how much would you have in 10 years.

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

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

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

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

cwrw238
 3 years ago
Best ResponseYou've already chosen the best response.1the 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

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

cwrw238
 3 years ago
Best ResponseYou've already chosen the best response.1well thats it the amount after 10 years is 81,550.94  pretty good rate of interest
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