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

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

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