Asked by parker
Calculate the interest earned on an investment of 2500 invested at an interest rate of 6.15%/a compounded quarterly for 10 years.
Answers
Answered by
Damon
40 periods at a rate of .0615/4
2500 (1.015375)^40=2500(1.841) = $4602.55
2500 (1.015375)^40=2500(1.841) = $4602.55
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