Asked by Tyona Suttles
INVESTMENTS. Determine the amount of
an investment if $1000 is invested at an
interest rate of 8% compounded quarterly for
2 years.
an investment if $1000 is invested at an
interest rate of 8% compounded quarterly for
2 years.
Answers
Answered by
mathhelper
i = .08/4 = .02
n = 4*2 = 8
amount = 1000(1.02)^8 = .....
n = 4*2 = 8
amount = 1000(1.02)^8 = .....
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