SOLUTION: find the value of $8000 if the annual interest 4.5 compounded quarterly for 8 years
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Question 523200: find the value of $8000 if the annual interest 4.5 compounded quarterly for 8 years
Found 2 solutions by stanbon, MathTherapy:
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
find the value of $8000 if the annual interest
4.5 compounded quarterly for 8 years
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A(t) = P(1+(r/n))^(n*t)
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A(8) = 4000(1+(0.045/1))^(1*8)
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A(8) = 4000(1+ 0.045)^8
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A(8) = 4000(1.4221)
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A(8) = $5688.40
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Cheers,
Stan H.
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Answer by MathTherapy(10555) (Show Source): You can put this solution on YOUR website!
find the value of $8000 if the annual interest 4.5 compounded quarterly for 8 years
A(future value) =
A(future value) =
A(future value) =
A(future value) = 8,000(1.430451)
A(future value) = $
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