Question

Find the amount that results from the given investment.

$100 invested at 11% compounded quarterly after a period of 3 years

Answer 1

$138.27.

Explanation:

Given that it is required to obtain the amount of money that arises from $ 100 invested at 11% compounded quarterly after a period of 3 years, to determine said amount the following calculation must be performed:

X = 100 x (1 + 0.11 / 3) ^ 3x3

X = 100 x (1 + 0.03666) ^ 9

X = 100 x 1.03666 ^ 9

X = 100 x 1.3827

X = 138.27

Thus, the amount that will arise from said investment is $ 138.27.