Asked by EDWARD

Find the accumulated value of an investment of $700 at 16%compounded quarterly for 2 years.
Answered by Reiny
16%compounded quarterly for 2 years.
----> i = .08, n = 4

Amount = 700(1.08)^4
= ....
Answered by Reiny
I don't know why I read that as semi-annually
so
i = .04
n = 8

amount = 700(1.04)^8
= 958.00
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