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Leno4ka [110]
2 years ago
11

The basic equation for calculating compound interest is A = P(1 + nt.

Mathematics
1 answer:
RoseWind [281]2 years ago
8 0

The amount of the investment at the end of the 10 years period if compounded quarterly is $2,649.6.

<h3>Compound interest</h3>

  • Principal, P = $1200
  • Interest rate, r = 8% = 0.08
  • Time, t = 10
  • Number of period, n = 4

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

= 1200(1 + 0.08/4)^(4×10)

= 1200(1 + 0.02)^40

= 1200(1.02)^40

= 1200(2.208)

= $2,649.6

Learn more about compound interest:

brainly.com/question/24924853

#SPJ1

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