SOLUTION: How much will an investment of $20,000 be worth in 3 years if interest is compounded quarterly at 8%?
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Question 926616: How much will an investment of $20,000 be worth in 3 years if interest is compounded quarterly at 8%?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
How much will an investment of $20,000 be worth in 3 years if interest is compounded quarterly at 8%?
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3 yrs = 12 periods
r = 8/4 = 2% per period
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FV = 20000*1.02^12
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