Question 1140858
{{{ A = A[0]*( 1 + r/n )^( n*t ) }}}
{{{ A[0] = 5500 }}}
{{{ r = .042 }}}
{{{ n = 4 }}}
{{{ t = 7 }}}
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{{{ A = 5500*( 1 + .042/4 )^( 4*7 ) }}}
{{{ A = 5500*( 1 + .0105 )^28 }}}
{{{ A = 5500*1.33973 }}}
{{{ A = 7368.51 }}}
$7,368.51 after 7 yrs
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check:
{{{ A = A[0]*( 1 + r/n )^( n*t ) }}}
{{{ 7368.51 = 5500*( 1 + r/n )^(n*t) }}}
{{{ 1.33973 = ( 1 + r/n )^(n*t) }}}
Checks with what I have
OK