SOLUTION: if$450 is invested at 12% compouned
what is the amount after 8 years?how much interest is earned?
if it is compounded quarterly, what is the amount?
Algebra.Com
Question 911876: if$450 is invested at 12% compouned
what is the amount after 8 years?how much interest is earned?
if it is compounded quarterly, what is the amount?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
if $450 is invested at 12% compouned
what is the amount after 8 years?how much interest is earned?
if it is compounded quarterly, what is the amount?
----
A(t) = P(1+(r/n))^(nt)
A(8) = 450(1+(0.12/4))^(4*8)
------
A(8) = 450(1.03)^(32) = $1178.79
----
Interest = 1158.79-450 = $708.79
---------------
Cheers,
Stan H.
-------------------------------
RELATED QUESTIONS
If $250 is compounded quarterly what is the amount after 8 years and how much interest is (answered by rfer)
If $600 is invested at 8% compounded quarterly, what is the interest earned after:
5... (answered by Edwin McCravy,addingup,MathTherapy)
If $100 is invested at 4% compounded quarterly, what is the interest earned after:
3... (answered by Theo)
If $100 is invested at 4% compounded quarterly, what is the interest earned after:
3... (answered by Edwin McCravy,addingup,MathTherapy)
If $400 is invested at 3% compounded monthly, what is the
interest earned after:
4... (answered by addingup,Edwin McCravy,MathTherapy)
If $700 is invested at 10% compounded yearly, what is the interest earned after:
6... (answered by addingup,MathTherapy)
If $700 is invested at 10% compounded yearly, what is the interest earned after:
6... (answered by robertb)
If $700 is invested at 7% compounded quarterly, what is the interest earned after:
a) 2 (answered by addingup)
If $600 is invested at 17% compounded quarterly, what is the interest earned after:
a) (answered by ikleyn)