Question

Isabella invested $500 at 6% annual interest, compounded quarterly. How much will her Investment be after 25 years.

Answer 1

Answer:

$2216.02

Step-by-step explanation:

Compound interest formula:

$FV=PV(1+\frac{i}{n})^{nt}\\\\FV=500(1+\frac{.06}{4})^{25*4}\\\\500(1.015)^{100}\\=2216.02$