Register
WORTH ALOT. Find the amount that results from the investment. 14) $480 invested at 7% compounded quarterly after a period of 9 years ​
158k views
3 votes
WORTH ALOT. Find the amount that results from the investment. 14) $480 invested at 7% compounded quarterly after a period of 9 years

​

User Guilloptero
by
8.8k points

2 Answers

5 votes

Answer:

$896.36

Explanation:

GIVEN

User Juan Castano
by
8.3k points
1 vote

Answer:

  • $896.36

Explanation:

  • Principal = $480
  • Interest rate = 7% compounded
  • Compound number = 4 per year
  • Time = 9 years

Final amount is:

  • 480*(1 + 0.07/4)^(9*4) =
  • 480(1.0175)^36 =
  • $896.36
User Jason Anderson
by
8.3k points
← Prev Question Next Question →

No related questions found

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 =
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!