Question 432879
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final amount of the investment if $8000 invested at 6% compounded quarterly for 6 years
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        The answer in the post by @mananth is correct,  but his intermediate formulas are wrong.

        Wrong formulas in his post can confuse a reader.


        To avoid confusing,  I place my solution here in the form as it  SHOULD  be presented.



<pre>
Principal P =	8000																		

years=n	6									

compounded 4	times a year								

Rate =	6%	which means that the effective rate is  {{{0.06/4}}}  per quarter.


Future value = {{{P*(1+r/4)^(6*4)}}}									
										
Amount = {{{8000*(1+0.06/4)^24}}} = 11436.02  dollars.


<U>ANSWER</U>.  Future value in 6 years is  $11436.02.
</pre>

Solved and presented correctly.


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Again, I placed this my solution here to OVERLAY wrong formulas in the post by @mananth.