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ratelena [41]
2 years ago
14

Amos deposits an amount of R 1260 in an account that pays 8,5% interest per year, compounded quarterly. After six years the amou

nt in the account will be?
Mathematics
1 answer:
Marysya12 [62]2 years ago
4 0
<span>FV = PV × (1+r)^n ; </span><span>where FV = Future Value;
PV = Present Value;
r = annual interest rate;
n = number of periods;
FV = 1260 </span>× 1.085^6 = 1260 × 1.63 ≈ 2054 ;
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