If you invested $2000 in an account that paid 8% annual interest compounded quarterly, how much would the account be worth in 10 years?

Question

asked Jan 19, 2022 220k views

2 Answers

Raman Sharma · Answer 1 · 2022-01-21T03:59:32+0000

Answer:

$1600

Explanation:

8 = 0.08% Turn the percent to a decimal

2000 / 0.08 = 160 Divide it by 2000

160 * 10 = 1600 Mutiply by 10

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