SOLUTION: Determine the amount of an investment if $1000 is invested at an interest rate of 7.3% compounded quarterly for 30 years. $8,760.53 $8,876.13 $8,279.26 $3,190

SOLUTION: Determine the amount of an investment if $1000 is invested at an interest rate of 7.3% compounded quarterly for 30 years. $8,760.53 $8,876.13 $8,279.26 $3,190

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Question 1038457: Determine the amount of an investment if $1000 is invested at an interest rate of 7.3% compounded quarterly for 30 years.
$8,760.53
$8,876.13
$8,279.26
$3,190
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!

where

is the future value,

is the present value or invested principal,

is the decimal representation of the annualized interest rate,

is the number of compounding periods per year, and

is the number of years.

Plug in your numbers and do the arithmetic.

John

My calculator said it, I believe it, that settles it

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