SOLUTION: If $7,000 is invested at 4% compounded quarterly, what is the amount after 8 years?
The amount after 8 years will be$
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-> SOLUTION: If $7,000 is invested at 4% compounded quarterly, what is the amount after 8 years?
The amount after 8 years will be$
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Question 1182414: If $7,000 is invested at 4% compounded quarterly, what is the amount after 8 years?
The amount after 8 years will be$ Answer by ikleyn(52781) (Show Source):
You can put this solution on YOUR website! .
If $7,000 is invested at 4% compounded quarterly, what is the amount after 8 years?
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The amount after 8 years will be (use the standard formula for the future value)
FV = = = 9624.58 dollars. ANSWER
Solved.
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To see many other similar (and different) solved problems on compounded interest accounts, look into the lesson
- Compounded interest percentage problems
in this site.
