## TammisaurusRex Group Title "After 6 years, what is the total amount of a compound interest investment of $35,000 at 4% interest, compounded quarterly?" I tried to solve this question and I thought I did it right but my answer matched none of the multiple-choice answers I was given, so apparently I did something wrong. one year ago one year ago • This Question is Closed 1. TammisaurusRex Group Title I think the formula I'm supposed to use is the Compound Interest Formula: $A = P(1 + \frac{ r }{ n })^{nt}$ Where A = total, P = principal, t = time (years), r = annual interest rate, and n = number of compounds per year 2. TammisaurusRex Group Title But every time I plug the values in I get 89,000 something, but my choices are as follows: A.$37,153.21 B. $39,438.88 C.$44,440.71 D. \$56,295.30

3. amistre64 Group Title

show me how you filled in the formula

4. TammisaurusRex Group Title

Oh wait!! I realize what I did wrong! Instead of plugging in r/n inside the parenthesis, I only plugged in r.

5. TammisaurusRex Group Title

Let me try it one more time and I'll see if it works.

6. amistre64 Group Title

my idea was you didnt convert 4% correctly as .04 ... but that was just a guess

7. TammisaurusRex Group Title

I got it! Thank you for your help though (:

8. stamp Group Title
9. amistre64 Group Title

i knew you could :)