document.write( "Question 1157576: Calculate the how much you would end up with if you invested 35000 in a GIC at a rate of 3.6% per year, compounded quarterly for 2.5 years. \n" ); document.write( "

Algebra.Com's Answer #780561 by ankor@dixie-net.com(22740) $\"\"$ $\"About$

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Calculate the how much you would end up with if you invested 35000 in a GIC at a rate of 3.6% per year, compounded quarterly for 2.5 years.
\n" ); document.write( ":
\n" ); document.write( "The compound interest formula
\n" ); document.write( " $\"A+=+p%2A%281%2B%28r%2Fn%29%29%5E%28t%2An%29\"$ , where
\n" ); document.write( "A = the accumulated amt after t years
\n" ); document.write( "p = the principal amt
\n" ); document.write( "n = no. of interest payments per year
\n" ); document.write( "r = rate of interest in decimal form
\n" ); document.write( "t = time in yrs\r
\n" ); document.write( "\n" ); document.write( " $\"A+=+35000%2A%281%2B%28.036%2F4%29%29%5E%282.5%2A4%29\"$
\n" ); document.write( " $\"A+=+35000%2A%281.009%29%5E10\"$
\n" ); document.write( "use your calc 1.009^10
\n" ); document.write( "A = 35000*1.093734
\n" ); document.write( "A = $38,280.69 \n" ); document.write( "

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