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Anuta_ua [19.1K]

2 years ago

11

Using the formula A=P(1+r/n) ^nt calculate the value of an initial investment of $4,500 after 10 years at 4% interest, compounde

d quarterly (four times per year).

1 answer:

Tema [17]2 years ago

6 0

Answer:

Using the formula provided, the value of that investment after 10 years is

A = P(1 + r/n) ^nt

= 4500 x (1 + (4/100)/4)^(10 x 4)

= 4500 x (1.01)^40

= 6699.89$

Hope this helps!

:)

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