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Determine the amount of money you will have if you deposit $108,000 for 25 years at 8% annual interest, compounded quarterly.

Determine the amount of money you will have if you deposit $108,000 for 25 years at 8% annual interest, compounded quarterly.
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4 votes
Determine the amount of money you will have if you deposit $108,000 for 25 years at 8% annual interest, compounded quarterly.

User Rohit Suvagiya
by
8.4k points

2 Answers

1 vote

Answer: The answer is $782,421.78

Explanation:

Just got 100% Gradpoint

User Makkes
by
8.3k points
4 votes

A =108000(1+(0.08)/(4))^(4*25)=782421.78
The answer is $782,421.78
User Ivan Shamatov
by
8.4k points
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