You invest $5000 into an account earning 4% interest compounded quarterly. Write an
1 answer:
Answer:
A (in $USD) = 5,000(1 + .04/4)^4(8)
A = 5000(1 + 0.01)^32
A = 5000(1.01)^32
A = 5000(1.37494068)
A ≈ 6874.7034
<u>A = $6875 or $6875.7 (depending on rounding requirement)</u>
Step-by-step explanation:
Compound Interest Formula
A = P(1+ r/n)^n(t)
- A is the amount in the account after t years
- P is the principal (original amount invested)
- r is the annual rate, expressed as a decimal
- n the number of times the interest is calculated a year*
- t is the number of years
*If the interest is compounded monthly n = 12, if quarterly n = 4, if daily n = 365.
You might be interested in
Easy buddy...
_________________________________
Step (1)
I choose a number which is x
_________________________________
Step (2)
Multiplies by 90 :
_________________________________
Step (3)
Adds up to -23 :
_________________________________
And we're done.
Thanks for watching buddy good luck.
♥️♥️♥️♥️♥️
Answer:6018
Step-by-step explanation:
Given Sequence
It represent an A.P. with
first term
common difference
So sum of 51 term