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zhellyyyyy
20.09.2019 •
Mathematics
If $3500 is invested at the rate of 8%, compounded quarterly, what will be the value of the investment 17 years from now, assuming no withdrawals?
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Ответ:
A = P(1+r/n)^(n*t)
The variables are
A = amount in the account after t years
P = initial amount invested
r = interest rate (in decimal form)
n = compounding frequency
t = number of years
In this case
A = unknown (we're solving for this)
P = 3500
r = 0.08 (8% = 8/100 = 0.08)
n = 4 (compound quarterly ---> compound 4 times a year)
t = 17
Plug all these values into the equation to get...
A = P(1+r/n)^(n*t)
A = 3500(1+0.08/4)^(4*17)
A = 3500(1+0.02)^(4*17)
A = 3500(1.02)^(4*17)
A = 3500(1.02)^(68)
A = 3500(3.8442505025456)
A = 13454.8767589096
A = 13454.88
This means that you will have $13454.88 in the account after 17 years
Final 13454.88
Ответ:
I took the test on edge
Step-by-step explanation:
The vertex is the maximum value.
The axis of symmetry is x = negative one-half.
The domain is all real numbers.