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Surwatullah is starting university in 3 years and would like to have $4000 when he starts. He has $3000 to invest now, and his bank pays 5% compounded quarterly. Will he have enough?
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1 vote
Surwatullah is starting university in 3 years and would like to have $4000 when he starts. He has $3000 to invest now, and his bank pays 5% compounded quarterly. Will he have enough?

User Mark Lakewood
by
8.6k points

1 Answer

2 votes

Answer:

Answer found by the following formula/e: CI = A – P

User Chokrijobs
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7.5k points
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