SOLUTION: Amanda invests $6300 in a new savings account which earns 3.9% annual interest, compounded quarterly. What will be the value of her investment after 7 years? Round to the nearest
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-> SOLUTION: Amanda invests $6300 in a new savings account which earns 3.9% annual interest, compounded quarterly. What will be the value of her investment after 7 years? Round to the nearest
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Question 1140469: Amanda invests $6300 in a new savings account which earns 3.9% annual interest, compounded quarterly. What will be the value of her investment after 7 years? Round to the nearest cent. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! This is Po(1+0.039/4)^28, divide interest by 4 and raise to 7 years* 4 compounds per year. Round at end.
=$8266.63
