SOLUTION: What is the accumulated amount A if the principal P = $11,000 is invested at the interest rate of r = 5% per year for t = 5.5 years, compounded quarterly.
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Question 816192: What is the accumulated amount A if the principal P = $11,000 is invested at the interest rate of r = 5% per year for t = 5.5 years, compounded quarterly.
Hi,
principal P = $11,000 is invested at the interest rate of r = 5% per year
for t = 5.5 years, compounded quarterly.
In General
A = Accumulated Amount
P= principal = 11,000
r= annual rate = .05
n= periods per year = 4
t= years = 5.5
