SOLUTION: Suppose you invest $2500 at an annual rate of 7.00% compounded quarterly. How much money would you have 9 years later?

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Question 438949: Suppose you invest $2500 at an annual rate of 7.00% compounded quarterly. How much money would you have 9 years later?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi

Suppose you invest $2500 at an annual rate of 7.00% compounded quarterly.  

How much money would you have 9 years later?

  A= p(1+r/n) ^nt 

  A= $2500(1+.07/4) ^36 

  A= $2500(1.0175) ^36 = $4668.52