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Find the accumulated value if the money is compounded quarterly?

Find the accumulated value if the money is compounded quarterly?-example-1
Find the accumulated value if the money is compounded quarterly?-example-1
Find the accumulated value if the money is compounded quarterly?-example-2
User Antwann
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Part b.

In this case, the money is compounded quarterly, this means that n=4 (4 times per year). So, by substrituting the given values into the compound interes formula, wer have


A=15000(1+(0.045)/(4))^(4*5)

which gives:


A=18761.26

User Albertdiones
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