Question 1178230


principal of $124247 =P
compounded 3 %   r=3* = 0.03
quarterly 4 times a year n=4
after 20 years t

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

A = 124,247.00(1 + 0.03/4)(4)(20)
A = 124,247.00(1 + 0.0075)(80)
A = $225,886.51

The total amount accrued,  with compound interest on a principal of $124,247.00 at  3% per year compounded 4 times per year over 20 years is $225,886.51.