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s344n2d4d5 [400]
3 years ago
12

If you invest $1500 in at an interest rate of 7% for 5 years and the interest is compounded quarterly, how much money will you h

ave after the 5 years. Round your answer to the nearest cent.
Not sure if its Interest Compounded k Times per Year formula or Interest Compounded continuously formula
Mathematics
1 answer:
Flauer [41]3 years ago
7 0
100%+7%=107% 1.07³x1.07²x1500=2103.83
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