kpickle99 kpickle99

16-07-2017
Mathematics

contestada

You invest an initial 100 in an account that has an annus! intecest rate of 3% compounded quarterly. How much money will ypu have in the account after 20 years?

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Aliwohaish12 Aliwohaish12

16-07-2017

The formula is
A=p (1+r/k)^kn
A future value?
P present value 100
R interest rate 0.03
K compounded quarterly 4
N time 20 years
A=100×(1+0.03÷4)^(4×20)
A=181.80

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