SOLUTION: Calculate the how much you would end up with if you invested 35000 in a GIC at a rate of 3.6% per year, compounded quarterly for 2.5 years.

Question 1157576: Calculate the how much you would end up with if you invested 35000 in a GIC at a rate of 3.6% per year, compounded quarterly for 2.5 years.
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Calculate the how much you would end up with if you invested 35000 in a GIC at a rate of 3.6% per year, compounded quarterly for 2.5 years.
:
The compound interest formula
, where
A = the accumulated amt after t years
p = the principal amt
n = no. of interest payments per year
r = rate of interest in decimal form
t = time in yrs

use your calc 1.009^10
A = 35000*1.093734
A = $38,280.69
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