Kameron21
Kameron21 Kameron21
  • 14-10-2016
  • Mathematics
contestada

Suppose you invest $200 at 4% interest compounded quarterly. How much money will there be after one year?

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apologiabiology
apologiabiology apologiabiology
  • 14-10-2016
[tex]A=P(1+ \frac{r}{n})^{nt} [/tex]
A=future amount
P=present amount
r=rate in decimal
n=number of time per year componded
t=time in years
[tex]A=200(1+ \frac{0.04}{4n})^{(4)(1)} [/tex]
[tex]A=200(1+ 0.01)^{4} [/tex]
[tex]A=200(1.01)^{4} [/tex]
A=208.21

about $208.21
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