document.write( "Question 432879: final amount of the investment if $8000 invested at 6% compounded quarterly for 6 years \n" ); document.write( "
Algebra.Com's Answer #853260 by ikleyn(53427)\"\" \"About 
You can put this solution on YOUR website!
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\n" ); document.write( "final amount of the investment if $8000 invested at 6% compounded quarterly for 6 years
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\n" ); document.write( "\n" ); document.write( "        The answer in the post by @mananth is correct,  but his intermediate formulas are wrong.\r
\n" ); document.write( "\n" ); document.write( "        Wrong formulas in his post can confuse a reader.\r
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\n" ); document.write( "\n" ); document.write( "        To avoid confusing,  I place my solution here in the form as it  SHOULD  be presented.\r
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document.write( "Principal P =	8000																		\r\n" );
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document.write( "years=n	6									\r\n" );
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document.write( "compounded 4	times a year								\r\n" );
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document.write( "Rate =	6%	which means that the effective rate is  \"0.06%2F4\"  per quarter.\r\n" );
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document.write( "Future value = \"P%2A%281%2Br%2F4%29%5E%286%2A4%29\"									\r\n" );
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document.write( "Amount = \"8000%2A%281%2B0.06%2F4%29%5E24\" = 11436.02  dollars.\r\n" );
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document.write( "ANSWER.  Future value in 6 years is  $11436.02.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Solved and presented correctly.\r
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\n" ); document.write( "\n" ); document.write( "Again, I placed this my solution here to OVERLAY wrong formulas in the post by @mananth.\r
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