SOLUTION: 1.Find the amount in an account where $100 is invested at 4% compounded quarterly for a period of two years. 2.Find the amount in an account where $1000 is invested at 3% compound

SOLUTION: 1.Find the amount in an account where $100 is invested at 4% compounded quarterly for a period of two years. 2.Find the amount in an account where $1000 is invested at 3% compound

Algebra.Com

Question 730449: 1.Find the amount in an account where $100 is invested at 4% compounded quarterly for a period of two years.
2.Find the amount in an account where $1000 is invested at 3% compounded continously for a period of five years.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
1)
FV=100(1.01)^8
FV=$108.29
2)
FV=1000(2.7183)^0.03*5
FV=1000(2.7183)^0.15
FV=1000*1.1618
FV=$1161.80
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