Mathematics: How to do this question?with steps pleasethank you

How to do this question?with steps pleasethank

kaziyahf2006

08.08.2021

The future value of investment at 6 % compounded quarterly is $ 4782.472

Step-by-step explanation:

Given as :

The principal amount = $ 4000

The rate of interest compounded quarterly = 6 %

The time period = 3 years

Let The future amount = A

From Compounded method

Amount = Principal × $(1+\dfrac{\textrm rate}{4\times 100})^{4\times \textrm time}$

Or, Amount = 4000 × $(1+\dfrac{\textrm 6}{4\times 100})^{4\times \textrm 3}$

Or, Amount = 4000 × $(1.015)^{12}$

Or, Amount = 4000 × 1.195618

∴ Amount = $ 4782.472

Hence The future value of investment at 6 % compounded quarterly is $ 4782.472 Answer

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