SOLUTION: determine the amount of interest earned on a $100,000 investment if it is invested at 5.2% annual interest compounded quarterly for 12 years.

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: determine the amount of interest earned on a $100,000 investment if it is invested at 5.2% annual interest compounded quarterly for 12 years.      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 396276: determine the amount of interest earned on a $100,000 investment if it is invested at 5.2% annual interest compounded quarterly for 12 years.
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!



Hi

A= p(1+r/n) ^nt = 100,000(1+.052/4)^(12*4)= $185,888.87

Interest is $85,888.87