You are going to deposit $3,200 in an account that pays .58 percent interest per quarter. How much will you have in 8 years

Question

asked Jan 25, 2023 233k views

1 Answer

Cfstras · Answer 1 · 2023-01-31T13:41:34+0000

Answer is 3850.54

Explanation:

Cash deposited today 3200

FVf at 0.58% for 32 periods 1.2033

Amount at the end of 8 yrs (i.e.32 quarters) 3850.56