SOLUTION: If Don Gecewicz invests $4000 at 5% interest compounded quarterly, find the amount after 3 years

SOLUTION: If Don Gecewicz invests $4000 at 5% interest compounded quarterly, find the amount after 3 years

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Question 1119367: If Don Gecewicz invests $4000 at 5% interest compounded quarterly, find the amount after 3 years
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
If Don Gecewicz invests $4000 at 5% interest compounded quarterly, find the amount after 3 years
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3 years = 12 quarters
5%/year = 1.25%/quarter
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AMT = $5000*(1 + 0.0125)^12
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