Register
If 15000$ are deposited into an account with a 7% interest rate,compounded quarterly, what is the balance after 15 years
133k views
1 vote
If 15000$ are deposited into an account with a 7% interest rate,compounded quarterly, what is the balance after 15 years

User Jesusverma
by
8.8k points

1 Answer

5 votes

Answer:


15000 {(1 + (.07)/(4) )}^(15 * 4) = 42477.24

The balance is $42,477.24.

User Carey Gregory
by
8.0k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
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
Write words to match the expression. 24- ( 6+3)
Link Copied!