Leo invest $2000 at an interest rate of 4% compounded quarterly how much is the investment worth at the end of three years

Mathematics

1 answer:

adell [148]4 years ago

4 0

Answer:

$2,253.65

Step-by-step explanation:

The compound interest formula is: A = P (1 + r/n)^nt

The compound interest formula solves for the future value of your investment (A). The variables are: P – the principal (the amount of money you start with); r – the annual nominal interest rate before compounding; t – time, in years; and n – the number of compounding periods in each year (for example, 365 for daily, 12 for monthly, etc.).

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