Register
An investment of $5000 has an annual growth rate of 8% for 3 years a) How much is the investment worth if the interest is compounded quarterly?
164k views
6 votes
An investment of $5000 has an annual growth rate of 8% for 3 years

a) How much is the investment worth if the interest is compounded quarterly?

User Aaron Franke
by
5.5k points

1 Answer

9 votes

Answer: The final balance is $6,341.21.

The total compound interest is $1,341.21.

Explanation:

User Saragis
by
5.0k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.2m questions

6.8m answers

Other Questions

Pizza planet is running a special 3 pizzas for 16.50. What is the unit rate for one pizza
What number is halfway between 0 and 18
If the 9-inch wheel of cheese costs $18.60, what is the cost per square inch? If the cost is less than a dollar, put a zero to the left of the decimal point?
I need to simplify this expression.
Need answer to math problem!!!​
Link Copied!