If 5000 is invested at a rate of 3% interest compounded quarterly,what is the value of the investment in 5 years ?

asked Jul 21, 2020 48.2k views

1 vote

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2 votes

Answer:

$5,805.92

Explanation:

The compound interest formula is: A = P (1 + r/n)^nt

Andy Dwyer answered Jul 27, 2020

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