Ruth invests $10,000 in an account that earns 2.85% compounded quarterly. How much money will she have in that account after 30 years?

Question

asked Jul 15, 2021 177k views

1 Answer

Haysclark · Answer 1 · 2021-07-20T19:43:50+0000

Answer:

18,550

Explanation:

x/10,000 = 2.85/100

Cross multiply

100x = 28500

Simplify

x=285

Multiply by 30

285 x 30 = 8,550

Add to Original Investment

28,550