SOLUTION: Find the amount that results from the investment. $480 invested at 16% compounded quarterly after a period of 4 years

Question 1004005: Find the amount that results from the investment.
$480 invested at 16% compounded quarterly after a period of 4 years
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
FV = final value
PV = present value (in this case it's 480)
r = interest (here it's 16%)
n = number of periods in a year (your problem says 4. Well, it says quarterly and there are 1/4+1/4+1/4+1/4= 4/4 four quarters)
t = time, the number of years
---------------------------
FV= PV(1+r/n)^n*t
FV= 480(1+0.16/4)^4*4
FV= 480(1.04)^16
FV= 480(1.87)
FV= 897.60 is your final value, the amount you will have after 4 years.
J
RELATED QUESTIONS
Find the amount that results from the investment. $480 invested at 10% compounded... (answered by mananth)

$480 invested at 10% compounded quarterly after a period of 8 years. Find the amount that (answered by rfer)

Find the amount that results from the investment. $480 invested at 6% compounded... (answered by Alan3354)

Find the amount that results from the investment. $12,000 invested at 11% compounded... (answered by mananth)

Find the amount that results from the investment. $480 invested at 16% compounded... (answered by rfer)

Find the amount that results from the investment. Round the answer to the nearest... (answered by ikleyn)

find the amount that results from the investment of 12000 invested at 5% compounded... (answered by rfer)

$480 invested at 10% of compound quarterly after a period of 8 years. Find the amount... (answered by JBarnum,MathTherapy)

Find the amount that results from the investment. Use the formula A=Pert or A=P(1+r/n)nt. (answered by rfer)