Register
Eddie deposited $1200 into an account that earns 3% interest compounded 4 times per year. How much money will Eddie have in his account after 5 years? Round to the nearest cent.
218k views
5 votes
Eddie deposited $1200 into an account that earns 3% interest compounded 4 times per year. How much money will Eddie have in his account after 5 years? Round to the nearest cent.

User Sadheesh
by
8.2k points

1 Answer

4 votes
A=1,200×(1+0.03÷4)^(4×5)
A=1,393.42
User Renata
by
8.5k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
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?
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!