An investment of 7650 earns interest at the rate of 5% and is compound quarterly what is the accumulated value of the investment

Question

AnnZ [28]

3 years ago

11

An investment of 7650 earns interest at the rate of 5% and is compound quarterly what is the accumulated value of the investment

at the end of 9 years

Mathematics

1 answer:

Anni [7] · Answer 1 · 2022-04-26T05:41:41+03:00

Anni [7]3 years ago

6 0

The value of the investment is multiplied by (1+.05/4) = 1.0125 each quarter. After 36 quarters, the value is 1.0125³⁶ ≈ 1.563944 times its original value.

$7650×1.563944 ≈ $11,964.17 . . . . value after 9 years