Find the amount of compound interest earned with a principal rate of $925, rate of 6%, compounded quarterly, for 8 years with a
final amount of $1489.55
1 answer:
Answer:
$564.55
Step-by-step explanation:
#First, we determine the effective annual interest applicable given a 6% rate compounded quarterly:

We know that interest earned is equal to the accumulated value minus the initial investment amount or principal.
-Given the final value is $1489.55 and the initial amount is $925, the interest earned is calculated as;

Hence, the amount of interest earned is $564.55
You might be interested in
Answer:
It can go in once with a remainder of 4
Step-by-step explanation:
Answer:
it is 6
Step-by-step explanation:
2 and 6 are the denominators and the least common denominator is the number in which 2 & 6 can go in without leaving a remender and 6 is that number
Answer:
the answer is A
Step-by-step explanation:
Factors are: 0, 1, 2, 4, 8, 16
53,445,912. This answer is correct, as I did it by calculator. Good luck!