SOLUTION: 6. After 4 years, what is the total amount of an investment of $1500 in an account paying 2.5% interest, compounded quarterly?

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Question 432566:
6. After 4 years, what is the total amount of an investment of $1500 in an account paying 2.5% interest, compounded quarterly?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!


Hi

After 4 years, what is the total amount of an investment of $1500 in an account

 paying 2.5% interest, compounded quarterly

 A= p(1+r/n) ^nt 

 A = 1500(1 + .025/4)^16

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