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If $1,200 is invested at a nominal yearly interest rate of 3.2% compounded quarterly, then what is its worth after 10 years if no additional money is deposited or withdrawn from…

If $1,200 is invested at a nominal yearly interest rate of 3.2% compounded quarterly, then what is its worth after 10 years if no additional money is deposited or withdrawn from…
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25 votes
If $1,200 is invested at a nominal yearly interest rate of 3.2% compounded quarterly, then what is its worth after 10 years if no additional money is deposited or withdrawn from the investment?

asked
User Oysio
by
8.0k points

1 Answer

5 votes

Answer:

$2,600

Explanation:

answered
User AsThoughtWill
by
7.6k points
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