MathChic68 MathChic68
  • 19-11-2017
  • Mathematics
contestada

After 6 years, what is the total amount of a compound interest investment of $35,000 at 4% interest, compound quarterly?
Round to the nearest cent.

Respuesta :

lililane847ozmfoi
lililane847ozmfoi lililane847ozmfoi
  • 19-11-2017
1.06^6 * 35000 = $49648.20
1.06 is the mutiplier.
Answer Link
lilsparta lilsparta
  • 19-11-2017
A=P(1+r/100)^6
A=35000(1+1/100)^4×6
A=$44440.7127
A=$44441
Answer Link

Otras preguntas

In photosynthesis, water undergoes ______ while carbon dioxide undergoes ________a. oxidation .... reductionb. reduction .... oxidationc. no change ....
In photosynthesis, water undergoes ______ while carbon dioxide undergoes ________a. oxidation .... reductionb. reduction .... oxidationc. no change ....
what U.S document states the law for how Tyler became President?
Why didn't northern bankers,merchant ,mill owners and unskilled workers want to end slavery?
Describe how energy and matter move through the food web and carbon cycle
what U.S document states the law for how Tyler became President?
how did caesar strengthen his hold on power after declaring himself dictator of Rome for life
what is a vetor space?
what is a vetor space?
The perimeter of a rectangular field is 344 yards.  If the width of the field is 74 yards, what is its length