Question 1129003
{{{ A = P*( 1 + r/n )^(n*t) }}}
{{{ P = 1000 }}}
{{{ r = .035 }}}
{{{ n = 4 }}}
{{{ t = 5 }}}
{{{ A = 1000*( 1 + .035/4 )^( 4*5 ) }}}
{{{ A = 1000*1.00875^20 }}}
{{{ A = 1000*1.190339 }}}
{{{ A = 1190.34 }}}
She will have $1,190.34
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check:
{{{ 1190.34/1000 = 1.00875^20 }}}
{{{ 1.1903 = 1.1903 }}}
OK