SOLUTION: What is the accumulated amount A if the principal P = $11,000 is invested at the interest rate of r = 5% per year for t = 5.5 years, compounded quarterly.

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Question 816192: What is the accumulated amount A if the principal P = $11,000 is invested at the interest rate of r = 5% per year for t = 5.5 years, compounded quarterly.

Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 

Hi,

principal P = $11,000 is invested at the interest rate of r = 5% per year 

for t = 5.5 years, compounded quarterly.  

In General 

A = Accumulated Amount

P= principal = 11,000

r= annual rate = .05

n= periods per year = 4

t= years =  5.5

 

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