SOLUTION: What will be the future value in a year if $600 is invested at a rate of 15% compounded quarterly

Question 434949: What will be the future value in a year if $600 is invested at a rate of 15% compounded quarterly
Found 2 solutions by mananth, amalm06:
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Principal P = 600
Amount= A
years=n 1
compounded 4 times a year
Rate = 15.00 0.04
Amount = P*((n+r)/n)^n

Amount =600*(1+ 0.04)^1*4
Amount =600*(1+ 0.04)^4
600*(1.04)^4
Amount = $695.19

Answer by amalm06(224) (Show Source): You can put this solution on YOUR website!
FV = PV x [1+i/n]^nt
PV=600
i=0.15
n=4
FV=600x[1+0.15/4]^4=$695.19 (Answer)
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