SOLUTION: Determine the amount of an investment if $1000 is invested at an interest rate of 7.3% compounded quarterly for 30 years.
$8,760.53
$8,876.13
$8,279.26
$3,190
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-> SOLUTION: Determine the amount of an investment if $1000 is invested at an interest rate of 7.3% compounded quarterly for 30 years.
$8,760.53
$8,876.13
$8,279.26
$3,190
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Question 1038457: Determine the amount of an investment if $1000 is invested at an interest rate of 7.3% compounded quarterly for 30 years.
$8,760.53
$8,876.13
$8,279.26
$3,190 Answer by solver91311(24713) (Show Source):
where is the future value, is the present value or invested principal, is the decimal representation of the annualized interest rate, is the number of compounding periods per year, and is the number of years.
Plug in your numbers and do the arithmetic.
John
My calculator said it, I believe it, that settles it
