SOLUTION: Find the amount that results from the investment. Use the formula A=Pert or A=P(1+r/n)nt. $480 invested at 10% compounded quarterly after a period of 8 years

Algebra ->  Finance -> SOLUTION: Find the amount that results from the investment. Use the formula A=Pert or A=P(1+r/n)nt. $480 invested at 10% compounded quarterly after a period of 8 years      Log On


   

Question 548388: Find the amount that results from the investment. Use the formula A=Pert or A=P(1+r/n)nt.
$480 invested at 10% compounded quarterly after a period of 8 years
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
A=480(1+0.10/4)^4*8
A=480(1.025)^32
A=480*2.2
A=$1056.00