aj7786769 aj7786769
  • 21-07-2020
  • Mathematics
contestada

$2,500 principal earning 4%, compounded quarterly, after 4 years $40,000.00 $41,600.00 $2,931.45 $2,924.65

Respuesta :

martin58853 martin58853
  • 26-07-2020

Answer:

Amount= $2933.2

Step-by-step explanation:

The interest of $2,500 principal earning with rate of 4%, compounded quarterly, after 4 years

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

P= $2500

r= 4/100= 0.04

t= 4

n = 4*4= 16

A= 2500(1+0.04/16)^(16*4)

A= 2500(1+0.0025)^(64)

A= 2500(1.0025)^64

A= 2500(1.17328)

A= 2933.2

Amount= $2933.2

Answer Link
burrier7445s burrier7445s
  • 12-11-2021

Answer:

$2,931.45

Step-by-step explanation:

A(4) = 2500(1.01)^16

A(4) = 2500*1.1726

A(4) = $2931.45

Answer Link

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