SOLUTION: If $1400 is invested at an interest rate of 2.75% per year, compounded quarterly, find the value of the investment after the given number of years. (Round your answers to the neare

Question 1056182: If $1400 is invested at an interest rate of 2.75% per year, compounded quarterly, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)
(a) 1 year
(b) 2 years
(c) 12 years
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
In General
A = Accumulated Amount
P= principal = 1400
r= annual rate = .0275
n= periods per year = 4
t= years =

(a) 1 year
(b) 2 years
(c) 12 years
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