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Find the total amount of an investment if $1200 is invested at an interest rate of 3.5% compounded quarterly for 7 years.

Find the total amount of an investment if $1200 is invested at an interest rate of 3.5% compounded quarterly for 7 years.
asked 80.4k views
3 votes
Find the total amount of an investment if $1200 is invested at an interest

rate of 3.5% compounded quarterly for 7 years.

asked
User Johannes Filter
by
8.4k points

1 Answer

10 votes

Answer:

Total amount of investment = $1,531.51

Explanation:

A = P(1+r/n)^(nt)

answered
User Cyrille Con Morales
by
8.6k points
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