SOLUTION: Suppose that2000 is invested at a rate of 3.2% compounded quarterly. Assuming that no withdrawals are made, find the total amount after 5 years.

SOLUTION: Suppose that2000 is invested at a rate of 3.2% compounded quarterly. Assuming that no withdrawals are made, find the total amount after 5 years.

Algebra.Com

Question 1153998: Suppose that2000 is invested at a rate of 3.2% compounded quarterly. Assuming that no withdrawals are made, find the total amount after 5 years.
Answer by josgarithmetic(39625) (Show Source): You can put this solution on YOUR website!
Five years of quarterly periods is 20 quarterly periods.

3.2% per year cut into quarterly portions is 0.8%.

--------------balance after five years if no withdrawals
RELATED QUESTIONS
Suppose that $2000 is invested at a rate of 3% , compounded quarterly. Assuming that no... (answered by ewatrrr)

Suppose that $2000 is invested at a rate of 2.8% , compounded quarterly. Assuming that no (answered by rfer)

Suppose that $2000 is invested at a rate of 4.4% , compounded quarterly. Assuming that no (answered by rfer)

Suppose that $2000 is invested at a rate of 4.1% compounded semiannually. Assuming that... (answered by rfer)

Suppose that $2000 is invested at a rate of 5% , compounded semiannually. Assuming (answered by Boreal)

Suppose that $2000is invested at a rate of 4.4% compounded quarterly. Assuming that no... (answered by lwsshak3)

Suppose that $2000 is invested at a rate of 2.6% , compounded semiannually. Assuming (answered by stanbon)

suppose that $2000 is invested at a rate of 2.6%, compounded quarterly. Assuming that no... (answered by stanbon)

When Sophie was born her parents invested a sum of $20,000 in her college fund. They... (answered by ikleyn)