SOLUTION: 1000$ at 6% compounded quartley for 6 years

Algebra.Com
Question 1113605: 1000$ at 6% compounded quartley for 6 years
Found 3 solutions by stanbon, ikleyn, MathTherapy:
Answer by stanbon(75887)   (Show Source): You can put this solution on YOUR website!
1000$ at 6% compounded quarterly for 6 years
--------
A(t) = P(1+(r/n))^(n*t)
-------
A(6) = 1000(1+(0.06/4))^(4*6)
A(6) = 1000(1.015)^24
A(6) = 1000*1.06136
A(6) = $1061.36
-----
Cheers,
Stan H.
-------
Answer by ikleyn(52776)   (Show Source): You can put this solution on YOUR website!
.
1000$ at 6% compounded  for 6 years


A(t) = P*(1+(r/n))^(n*t)

A(6) = 1000*(1+(0.06/4))^(4*6)

A(6) = 1000*(1.015)^24

A(6) = $1429.50


Answer by MathTherapy(10551)   (Show Source): You can put this solution on YOUR website!

1000$ at 6% compounded quartley for 6 years
Why do these people who claim to be "tutors" seem to give wrong answers so often, maybe 90% of the times.

I'm glad I know math. If I did not, this would be the last place I'd come to for help!

Correct answer:  

RELATED QUESTIONS


$1000 at 4.5% compounded annually for 6... (answered by Alan3354)

FIND THE BALANCE FOR A FOR P DOLLARS INVSTED AT RATE r for t years, compounded quarterly
 (answered by stanbon)

In how many years will $350 amount to $1000 at 6% compounded... (answered by ewatrrr)

$1,050 at 6%, for 25 years, compounded... (answered by Cromlix)

59,981 invested for 3 years at 6% compounded... (answered by ewatrrr)

$15,000 at 6% compounded annually for 10... (answered by Alan3354)

I need help with money and compound interest for example principal $8500 rate 7%... (answered by rfer)

hardie has decided to invest 1000 dollars at the end of each month for 5 years. If his... (answered by ikleyn)

$860 at5.5% compounded quarterly for 6... (answered by ewatrrr)