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Imagine that you invest $95,000 in an account that pays 2.5% annual interest compounded quarterly. What will your balance be at the end of 20 years?

Imagine that you invest $95,000 in an account that pays 2.5% annual interest compounded quarterly. What will your balance be at the end of 20 years?
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13 votes
Imagine that you invest $95,000 in an account that pays 2.5% annual interest

compounded quarterly. What will your balance be at the end of 20 years?

User Kajal Ojha
by
7.8k points

1 Answer

9 votes
The balance would be 3.6%in 20 years
User Rohit Soni
by
7.9k points
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