SOLUTION: 1430 at 8% compounded by quarterly for 5 years

Question 954435: 1430 at 8% compounded by quarterly for 5 years
Found 2 solutions by Alan3354, hemu_da:
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
1430 at 8% compounded by quarterly for 5 years
-----------
5 yrs = 20 quarters
8%/yr = 2% per quarter
-----
--> 1430*(1.02)^20

Answer by hemu_da(13) (Show Source): You can put this solution on YOUR website!
Compound sum =
Where-->
.
p= premium
r= rate in %
n= time division (n=1 means yearly, n=2 means half yearly, n=4 means quarterly......)
t= time period
.
Putting all values--
compound sum=

.
.
Compound sum = 2124.9042
.
And compound interest = 694.9042
.
Ans.....

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