SOLUTION: A=8000(1+.06/4)^4^7 how do i solve this iv never dealt with double exponents on the same thing

Question 697606: A=8000(1+.06/4)^4^7 how do i solve this iv never dealt with double exponents on the same thing

Answer by Edwin McCravy(20060) (Show Source): You can put this solution on YOUR website!

That's not supposed to be double exponents. Double 
exponents must have a right parenthesis between 
them. It should be

A=8000(1+.06/4)^(4*7) 

You problem is obviously a case of the compound
interest formula:





which is the formula for this problem:

If $8000 is invested at 6% compounded quarterly,
what will be the amount after 7 years?

Answer: $12137.78.

Edwin

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