You invest an initial 100 in an account that has an annus! intecest rate of 3% compounded quarterly. How much money will ypu have in the account after 20 years?

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asked Aug 3, 2018 35.2k views

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Bravohex · Answer 1 · 2018-08-07T10:01:27+0000

The formula is
A=p (1+r/k)^kn
A future value?
P present value 100
R interest rate 0.03
K compounded quarterly 4
N time 20 years
A=100×(1+0.03÷4)^(4×20)
A=181.80

You invest an initial 100 in an account that has an annus! intecest rate of 3% compounded quarterly. How much money will ypu have in the account after 20 years?

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