SOLUTION: Suppose that $2000 is invested at a rate of 2.8% , compounded quarterly. Assuming that no withdrawals are made, find the total amount after 9 years.

SOLUTION: Suppose that $2000 is invested at a rate of 2.8% , compounded quarterly. Assuming that no withdrawals are made, find the total amount after 9 years.

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Question 731223: Suppose that $2000 is invested at a rate of 2.8% , compounded quarterly. Assuming that no withdrawals are made, find the total amount after 9 years.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=2000(1+0.028/4)^4*9
Fv=2000(1.0007)^36
FV=2000*1.0255
FV=$2051
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