If 8900 is invested at 3.8%

1 answer:

6 0

Is this the question, i am assuming you are asking?

If $8,900 is invested at 3.8% interest compounded quarterly, how much will the investment be worth in 13 yrs?
A.$14,551.87
B.$14,518.40
C.$14,452.92
D.$14,574.46

If it is, Here is your answer:

 Just plug everything into the equation.

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

P is the principle (investment)
r is the interest rate expressed as a decimal
n is the number of times compounding occurs in a year
t is the number of years

A(13) = 8900(1 + 0.038/4)^(4+13) = 14551.87

Answer is (A): 14, 551.87

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