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You are going to deposit $3,200 in an account that pays .58 percent interest per quarter. How much will you have in 8 years
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11 votes
You are going to deposit $3,200 in an account that pays .58 percent interest per quarter. How much will you have in 8 years

User Blafasel
by
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1 Answer

12 votes

Answer is 3850.54

Explanation:

Cash deposited today 3200

FVf at 0.58% for 32 periods 1.2033

Amount at the end of 8 yrs (i.e.32 quarters) 3850.56

User Cfstras
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