Question

Sandy invest 1500 into an account with 3.5% interest compounded quarterly how much money will be in your account after 8 years

Answer 1

$1983.89

Explanation:

P is the principal amount,

r is the interest rate in decimal form

t is the time.

A = P(1 + r/n)^nt

A = 1,500.00(1 + 0.035/12)^(12*8)

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