Question

QUICK PLEASE. Calculate the final amount if $10 000 invested for 6 years at 4% compounded quarterly.

Answer 1

The final amount if $10 000 invested for 6 years at 4% compounded quarterly is $12,697

Compound interest

The formula for calculating the compound interest is given as:

A = P(1+r/n)^nt

Given the following parameters

A = 10000(1+0.04/4)^4(6)

A = 10000(1+0.01)^24

A = 10000(1.01)^24

A = 1.2697(10,000)

A = $12,697

Hence the final amount if $10 000 invested for 6 years at 4% compounded quarterly is $12,697

Learn more on compound interest here: brainly.com/question/24924853

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