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3 years ago

Find the compound amount of 16100 for 4 years and 6 months and 10% compounded quarterly

Mathematics

1 answer:

Marina86 [1]3 years ago

3 0

Answer:

25110.51

Step-by-step explanation:

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

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

A = 16100(1+.1/4)^(4*4.5) = 25110.51

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