Question 1180512: You deposit $6000 in an account earning 4% interest compounded quarterly. How much will you have in the account in 5 years? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! You deposit $6000 in an account earning 4% interest compounded quarterly. How much will you have in the account in 5 years?
Principal P = 6000
Amount= A
years=t 5.00
compounded 4 times a year n
Rate = 4.00 0.04 0.01
Amount = P*((n+r)/n)^n*t
