SOLUTION: Use the formula A = P (1 + r/n)^nt to find the total $ accumulated at the end of the indicated time period for the following investments: $1,150 for 11 years at 10% compounded qua

Question 83748: Use the formula A = P (1 + r/n)^nt to find the total $ accumulated at the end of the indicated time period for the following investments:
$1,150 for 11 years at 10% compounded quarterly.
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Let p=1150, r=0.1, n=4, and t=11 and plug them into

Start with the given expression
Divide 0.1 by 4 to get 0.025
Multiply the exponents 4 and 11 to get 44
Add 1 and 0.025 to get 1.025
Raise 1.025 to the 44 th power to get 2.96380807696588
Multiply 1150 and 2.96380807696588 to get 3408.37928851076

So the return is $3408.37
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