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Orlov [11]
3 years ago
11

Ahmed invests $1,500 at an interest rate of 4%, compounded quarterly and another $1,500 at an interest rate of 3.75%, compounded

annually. How much are the investments worth in total at the end of 6 years?
Mathematics
1 answer:
earnstyle [38]3 years ago
7 0

Answer: $1904.60

Step-by-step explanation:

This is 1500(1+.04/4)^24 where .04/4 is the interest rate for each compounding, or the interest rate /4, for 4 quarters.

The 24 is 4 quarters/year * 6 years

round at the end

=$1904.60

<em>hope this helped!:)</em>

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Hope it helps

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asambeis [7]

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