SOLUTION: 15. Find the amount of money in an account after 12 years if a principal of $1800 was invested at 4.4% interest compounded quarterly. Round to the nearest cent.

Question 365021: 15. Find the amount of money in an account after 12 years if a principal of $1800 was invested at 4.4% interest compounded quarterly. Round to the nearest cent.
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Find the amount of money in an account after 12 years if a principal of $1800 was invested at 4.4% interest compounded quarterly. Round to the nearest cent.
...
A= p(1+r/n) ^nt
p=1800
r=4.4% = 0.044
t= period 12 years
n= quarterly = 4
A= 1800(1+0.044/4)^(12*4)
Amount = $ 3043.18
...
m.ananth@hotmail.ca
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