Asked by High
$1,000 in seven years at 8% compounded quarterly.
Answers
Answered by
Barry
Dear High,
The amount that you are going to get
=1000 x (1+(0.08/4))^(4x7)
=1741.024
For the interest that you are going to get= 1741.024-1000
= 741.024
The amount that you are going to get
=1000 x (1+(0.08/4))^(4x7)
=1741.024
For the interest that you are going to get= 1741.024-1000
= 741.024
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