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The basic equation for calculating compound interest is A=P(1+r/n)^(nt). If $2,200 is invested at an interest rate of 5% per year, Compound quarterly, how much will the investme…

The basic equation for calculating compound interest is A=P(1+r/n)^(nt). If $2,200 is invested at an interest rate of 5% per year, Compound quarterly, how much will the investme…
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The basic equation for calculating compound interest is A=P(1+r/n)^(nt). If $2,200 is invested at an interest rate of 5% per year, Compound quarterly, how much will the investment be worth at the end of 8 years

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User Shaktisinh Jadeja
by
7.9k points

1 Answer

2 votes
A=2,200×(1+0.05÷4)^(4×8)
A=3,273.89
answered
User Yamuna Mathew
by
8.2k points
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