SOLUTION: compute the amount and the compound interest: A) P=$6000 T=4yrs. R= 8.5% figure semiannyally B) P=$3500 T=2yrs. R= 4% figure quarterly

Question 89865: compute the amount and the compound interest:
A) P=$6000 T=4yrs. R= 8.5% figure semiannyally
B) P=$3500 T=2yrs. R= 4% figure quarterly
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
compute the amount and the compound interest:
A=P(1+r/n)^(nt)
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A) P=$6000 T=4yrs. R= 8.5% figure semiannyally
A = 6000(1+0.085/2)^(2*4)
A = $8370.66
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B) P=$3500 T=2yrs. R= 4% figure quarterly
A = 3500(1+0.04/4)^(4*2)
A = $3790.00
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Cheers,
Stan H.

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