Register
You invest an initial $100 in an account that has an annual interest rate of 3%, compounded quarterly. How much money will you have in the account after 20 years? Round your answer to the nearest whole
179k views
5 votes
You invest an initial $100 in an account that has an annual interest rate of 3%, compounded quarterly. How much money will you have in the account after 20 years? Round your answer to the nearest whole number.

User Sveerap
by
7.2k points

2 Answers

5 votes
180.81 is the answer
User Kavin Dsouza
by
7.2k points
2 votes
3 dollars qrtly making it 12 a year times 20 years will be 340 
User Cris
by
7.3k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

7.9m questions

10.6m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!