Register

An investment of $5000 has an annual growth rate of 8% for 3 years a) How much is the investment worth if the interest is compounded quarterly?

An investment of $5000 has an annual growth rate of 8% for 3 years a) How much is the investment worth if the interest is compounded quarterly?
asked 164k views
6 votes
An investment of $5000 has an annual growth rate of 8% for 3 years

a) How much is the investment worth if the interest is compounded quarterly?

asked
User Aaron Franke
by
9.3k points

1 Answer

9 votes

Answer: The final balance is $6,341.21.

The total compound interest is $1,341.21.

Explanation:

answered
User Saragis
by
8.4k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
Write words to match the expression. 24- ( 6+3)
Link Copied!