SOLUTION: If I use this formula a=p(1+i/n)nt How do i caluclate the amount of money that will be in my account after 10 years if I invest $2500 at 4.8% compounded quarterly. p=2500 i=

Question 27727: If I use this formula a=p(1+i/n)nt
How do i caluclate the amount of money that will be in my account after 10 years if I invest $2500 at 4.8% compounded quarterly.
p=2500
i= 4.8%
n= compounded quarterly (4times a year)
t=10 years
a=2500(1+0.048/4^10 please let me know if this is correct
Thanks
Answer by Paul(988) (Show Source): You can put this solution on YOUR website!
Since its 4.8% at compunded quaretly.. Its.
4.8/100=0.048

Formula.

Hence, after tens years the investment is $4028.66.
Paul.

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