SOLUTION: please help. one thousand dollars are invested at 8% interest compound quarterlly. determine how much the investment is worth after 1year, 4years, and 7years
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Question 572434: please help. one thousand dollars are invested at 8% interest compound quarterlly. determine how much the investment is worth after 1year, 4years, and 7years
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=P(1+r/4)^(4*t)
A=1000(1+0.08/4)^(4*4)
A=1000(1.02)^16
A=1000*1.37279
A=$1372.79
You do the other two.
I did the 4yr one.
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