document.write( "Question 785074: A $6000 deposit at an APR of 6.6% with quarterly compounding for 5 years. The amount after 5 years will be what? \n" ); document.write( "
Algebra.Com's Answer #477349 by mananth(16946) You can put this solution on YOUR website! Find Amount \n" ); document.write( "Principal P = 6000 \n" ); document.write( "Amount= A \n" ); document.write( "years=n 5.00 \n" ); document.write( "compounded 4 times a year t \n" ); document.write( "Rate = 6.60 0.07 \n" ); document.write( "Amount = P*((n+r)/n)^n*t \n" ); document.write( " \n" ); document.write( "Amount = = 6000 *( 1 + 0.07 /t)^ 5 * 4 \n" ); document.write( "Amount = 6000 *( 1 + 0.02 )^ 20 \n" ); document.write( " 6000 *( 1.02 )^ 20 \n" ); document.write( "Amount = 8323.36 \n" ); document.write( " \n" ); document.write( " |