TammisaurusRex 2 years ago "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. • This Question is Closed 1. TammisaurusRex 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 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

show me how you filled in the formula

4. TammisaurusRex

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

5. TammisaurusRex

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

6. amistre64

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

7. TammisaurusRex

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

8. stamp
9. amistre64

i knew you could :)