Determine the final balance from depositing $8,000 compounded quarterly for 6 years at 3% annual
1 answer:
You might be interested in
Answer:
Step-by-step explanation:
The two points can be made into a right triangle with the two sides defined by two lines drawn from the two given points. Use the Pythagorean Theorem to solve for the hypotenuse, the distance between the two points. See attached graph.
6^2 + 2^2 = x^2
36 + 4 = x^2
x^2 = 40
x = 6.32
