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Question 434949: What will be the future value in a year if $600 is invested at a rate of 15% compounded quarterly
Found 3 solutions by mananth, amalm06, ikleyn:
Answer by mananth(16949)   (Show Source):
You can put this solution on YOUR website! Principal P = 600
Amount= A
years=n 1
compounded 4 times a year
Rate = 15.00 0.04
Amount = P*((n+r)/n)^n
Amount =600*(1+ 0.04)^1*4
Amount =600*(1+ 0.04)^4
600*(1.04)^4
Amount = $695.19
Answer by amalm06(224)  (Show Source):
Answer by ikleyn(53421)  (Show Source):
You can put this solution on YOUR website! .
What will be the future value in a year if $600 is invested at a rate of 15% compounded quarterly
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The answer in the post by @mananth is correct, but his intermediate formulas are wrong.
Wrong formulas in his post can confuse a reader.
To avoid confusing, I place my solution here in the form as it SHOULD be presented.
Principal P = 600
years = 1
compounded 4 times a year
Rate = 15% which means that the effective rate is  per quarter.
Future value = 
Amount =  = 695.19 dollars.
ANSWER. Future value in a year is $695.19.
Solved and presented correctly.
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Again, I placed this my solution here to OVERLAY wrong formulas in the post by @mananth.
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I notice that it is just second time I see this inaccurate writing in a post by @mananth.
First time I noticed it under link
https://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.432879.html
From these coincidences, and from many other coincidences that I saw, I conclude
that @mananth is not really a person (not a human), but a computer code (like a very early version
of an Artificial Intelligence), which generates all the posts/solutions under his nickname.
Simply, for his calculations, he (or it) uses a code with two decimals
for printing real numbers, which produces this permanent error in his posts.
So, similar to as @CPhill was a pseudonym for the AI version of January 2025,
exactly in the same way @mananth is a pseudonym for more earlier (and more primitive) version of AI.
It is a computer code, in short.
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