SOLUTION: A fund pays 14% annual interest compounded
quarterly. What is the value of a $10,000 investment
after 3 yr?
Algebra.Com
Question 354486: A fund pays 14% annual interest compounded
quarterly. What is the value of a $10,000 investment
after 3 yr?
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
The formula is , where B is the balance of the investment after t years of an initial investment, or principal, of P, with annual interest rate 100r% where interest is compounded n times a year.
This gives
,
,
.
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