If you invested $2000 in an account that paid 8% annual interest compounded quarterly, how much would the account be worth in 10 years?

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Wp Student asked May 2, 2022

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If you invested $2000 in an account that paid 8% annual interest compounded quarterly, how much would the account be worth in 10 years?

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Wp Student asked May 2, 2022

by Wp Student

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12 votes

Answer:

$1600

Explanation:

8 = 0.08% Turn the percent to a decimal

2000 / 0.08 = 160 Divide it by 2000

160 * 10 = 1600 Mutiply by 10

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Thegauravmahawar answered May 3, 2022

by Thegauravmahawar

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13 votes

Answer:

4,317.85

Explanation:

Erop answered May 8, 2022

by Erop

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