SOLUTION: A=8000(1+.06/4)^4^7 how do i solve this iv never dealt with double exponents on the same thing

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Question 697606: A=8000(1+.06/4)^4^7 how do i solve this iv never dealt with double exponents on the same thing
Answer by Edwin McCravy(20060) About Me  (Show Source):
You can put this solution on YOUR website!
That's not supposed to be double exponents. Double 
exponents must have a right parenthesis between 
them. It should be

A=8000(1+.06/4)^(4*7) 

You problem is obviously a case of the compound
interest formula:

A%22%22=%22%22P%281%2Br%2Fn%29%5E%28n%2At%29

A%22%22=%22%228000%281%2B.06%2F4%29%5E%284%2A7%29

which is the formula for this problem:

If $8000 is invested at 6% compounded quarterly,
what will be the amount after 7 years?

Answer: $12137.78.

Edwin