Ok, so the formula for compound QUARTERLY is A=P(1+ʳ/n)ⁿ<span>ᵗ. P= The initial amount. R= The Rate T= The Time/Number of Years N= Number of time interest is compounded per year. (In this case its 4 because it compounded QUARTERLY.)
So if you input the numbers, you will get A=10,000(1+0.0625/4)</span>⁴⁽²⁵⁾<span> Now solve inside the parenthesis. 10,0 00(1.0625/4)</span>⁴⁽²⁵⁾ Now you will need a calculator for the next part... Do 1.0625/4 and times it by 10,000 . You will get 0.0265265. You can't for get about the ⁴⁽²⁵⁾. ⁴⁽²⁵⁾=<span>¹⁰⁰ </span>2,656.25¹⁰⁰= $47134.43 Hope This Helped!
