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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?
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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
9.3k 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
8.4k points
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