SOLUTION: Find the future value when investing $4,000 at the annual interest rate of 3.5% for 7 years compounded quarterly.

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Question 716773: Find the future value when investing $4,000 at the annual interest rate of 3.5% for 7 years compounded quarterly.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Find the future value when investing $4,000 at the annual interest rate of 3.5% for 7 years compounded quarterly.
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A(t) = P(1+(r/n))^(nt)
A(7) = 4000(1+(0.035/4))^(4*7)
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A(7) = 4000*1.2763 = $5105.04
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Cheers,
Stan H.
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