SOLUTION: Find the account balance after 15 year for an account paying compound interest if you deposit $1000 with a 3% annual interest rate compounded quarterly .
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-> SOLUTION: Find the account balance after 15 year for an account paying compound interest if you deposit $1000 with a 3% annual interest rate compounded quarterly .
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Question 1028856: Find the account balance after 15 year for an account paying compound interest if you deposit $1000 with a 3% annual interest rate compounded quarterly . Answer by solver91311(24713) (Show Source):
where is the future value, is the present value or invested principal, is the decimal representation of the annualized interest rate, is the number of compounding periods per year, and is the number of years.
Plug in your numbers and do the arithmetic
John
My calculator said it, I believe it, that settles it
