SOLUTION: Calculate, to the nearest cent, the future value FV(in dollars) of an investment of $10,000 at the stated interest rate after the stated amount of time. 4% per year, compounded qu

Algebra ->  Test -> SOLUTION: Calculate, to the nearest cent, the future value FV(in dollars) of an investment of $10,000 at the stated interest rate after the stated amount of time. 4% per year, compounded qu      Log On


   

Question 1177206: Calculate, to the nearest cent, the future value FV(in dollars) of an investment of $10,000 at the stated interest rate after the stated amount of time.
4% per year, compounded quarterly, after 4 years.
Answer by ikleyn(52780) About Me  (Show Source):
You can put this solution on YOUR website!
.

FV = 10000%2A%281%2B0.04%2F4%29%5E4 = 10406.04 dollars.      ANSWER

Solved.

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To see many other similar solved problems, look into the lessons
    - Compounded interest percentage problems
    - Problems on discretely compound accounts
in this site, and learn the subject from there.


After reading these lessons, you will tackle such problems on your own without asking for help from outside.

Also,  you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lessons are the part of this online textbook under the topic "Logarithms".


Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.


Happy learning (!)