SOLUTION: Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t yr. (Round your answer to the nearest cent.) P = $52,000, r = 7.2%, t = 10.5, co

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> SOLUTION: Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t yr. (Round your answer to the nearest cent.) P = $52,000, r = 7.2%, t = 10.5, co      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com
Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!
Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

   


Question 217002: Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t yr. (Round your answer to the nearest cent.)
P = $52,000, r = 7.2%, t = 10.5, compounded quarterly

Answer by rfer(10432) About Me  (Show Source):
You can put this solution on YOUR website!
A=P(1+r/4)^4*10.5
A=52000(1+.018)^42
A=52000(2.115469)
A=$110.004.39