Asked by rudy
1,000 are deposited into an account quarterly  for eight years at an interest rate of 7.87.8​% compounded quarterly. How much is in the account at the end of the 88 ​years? 
Answers
Answered by
Reiny
reading past the strange symbols:
1,000 are deposited into an account quarterly for eight years at an interest rate of 7.878 % compounded quarterly. How much is in the account at the end of the 8 years?
i = .07878/4 = .019695
n = 32
amount = 1000(1.019695^32 - 1)/.019695
I got $44,000.58
1,000 are deposited into an account quarterly for eight years at an interest rate of 7.878 % compounded quarterly. How much is in the account at the end of the 8 years?
i = .07878/4 = .019695
n = 32
amount = 1000(1.019695^32 - 1)/.019695
I got $44,000.58
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