SOLUTION: 1000$ at 6% compounded quartley for 6 years

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Question 1113605: 1000$ at 6% compounded quartley for 6 years

Found 3 solutions by stanbon, ikleyn, MathTherapy:
Answer by stanbon(75887)   (Show Source):
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1000$ at 6% compounded quarterly for 6 years
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A(t) = P(1+(r/n))^(n*t)
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A(6) = 1000(1+(0.06/4))^(4*6)
A(6) = 1000(1.015)^24
A(6) = 1000*1.06136
A(6) = $1061.36
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Cheers,
Stan H.
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Answer by ikleyn(52770)   (Show Source):
You can put this solution on YOUR website!
.

1000$ at 6% compounded for 6 years A(t) = P*(1+(r/n))^(n*t) A(6) = 1000*(1+(0.06/4))^(4*6) A(6) = 1000*(1.015)^24 A(6) = $1429.50

Answer by MathTherapy(10551)   (Show Source):
You can put this solution on YOUR website!

1000$ at 6% compounded quartley for 6 years

Why do these people who claim to be "tutors" seem to give wrong answers so often, maybe 90% of the times.
I'm glad I know math. If I did not, this would be the last place I'd come to for help!
Correct answer: