quintasiahaskin
23.08.2020 •
Mathematics
Find the amount of money accumulated if you invest $10,000 at 3% interest compounded quarterly for 2 years. Round your answer to the nearest cent.
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Ответ:
$10,625.99
Step-by-step explanation:
The future value formula is useful for this.
FV = P(1 +r/n)^(nt)
where interest at rate r is compounded n times per year for t years. P represents the principal invested.
FV = $10,000(1 +.03/4)^(4·2) = $10000(1.0075^8) ≈ $10,625.99
The accumulated value will be $10,625.99.
Ответ:
Her estimate is wrong. She got her estimation from b