SOLUTION:
Principal: 4,000.00
Annual Interest Rate: 8%
Compounding Period: Quarterly
Use the formula for computing future value using compound interest to determine the value of the
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-> SOLUTION:
Principal: 4,000.00
Annual Interest Rate: 8%
Compounding Period: Quarterly
Use the formula for computing future value using compound interest to determine the value of the
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Question 734242:
Principal: 4,000.00
Annual Interest Rate: 8%
Compounding Period: Quarterly
Use the formula for computing future value using compound interest to determine the value of the account at the end of 2 years.
Please detail so I can understand, as I have numerous like problems to solve, bless you. Answer by checkley79(3341) (Show Source):
You can put this solution on YOUR website! 4,000(1+.08/4)^2*4 [the 4 refers to the quarterly interest.
4,000(1+.02)^8
4,000(1.02)^8
4,000*1.17=$4,686.64
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