Asked by Kyle

You deposited $5000 in an investment fund that pays 4.5% per year, compounded quarterly. How much interest will you earn over a period of 5 years?

4 years ago

Answered by oobleck

5000(1 + .045/4)^(4*5) - 5000 = 1253.75

4 years ago

Answered by Anita

Thank you sooo much for this! It’s correct

3 years ago

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