SOLUTION: If don Gecewicz invests $6000 at 7% interest compounded quarterly, find the amount after 7 years

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: If don Gecewicz invests $6000 at 7% interest compounded quarterly, find the amount after 7 years       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1119368: If don Gecewicz invests $6000 at 7% interest compounded quarterly, find the amount after 7 years
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
Same problem, different numbers.
=======================
If Don Gecewicz invests $4000 at 5% interest compounded quarterly, find the amount after 3 years
--------------
3 years = 12 quarters
5%/year = 1.25%/quarter
-------------
AMT = $5000*(1 + 0.0125)^12