SOLUTION: Find the amount of a $1200 investment after 25 years at 6.6% annual interest compounded quarterly and monthly.

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Question 831033: Find the amount of a $1200 investment after 25 years at 6.6% annual interest compounded quarterly and monthly.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Find the amount of a $1200 investment after 25 years at 6.6% annual interest compounded quarterly and monthly.
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A(t) = P(1+(r/n))^(nt)
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A(25) = 1200(1+(0.066/4))^(4*25) = 1200*5.1373 = $6,164.81
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Cheers,
Stan H.
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