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The basic equation for calculating compound interest is A=P(1+r/n)^(nt). If 1400 is inve if 1400 is inverested at an interest rate of 6% per year, compounded quarterly, how much…

The basic equation for calculating compound interest is A=P(1+r/n)^(nt). If 1400 is inve if 1400 is inverested at an interest rate of 6% per year, compounded quarterly, how much…
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The basic equation for calculating compound interest is A=P(1+r/n)^(nt). If 1400 is inve if 1400 is inverested at an interest rate of 6% per year, compounded quarterly, how much will the investment be worth at the end of 10 years?

asked
User Andrius Solopovas
by
7.9k points

1 Answer

2 votes

Answer:

2539.63

Explanation:

A = 1400(1 + 0.06/4)^(4*10)

= 2539.63

answered
User Phong Vu
by
8.5k points
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