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Question

Find total amount in the compound intrest account.

$2000 is compounded quarterly at a rate of 8% for 6 years. (Round to nearest Hundereths as needed)
15 years ago

Answers

Reiny
amount = 2000(1.02)^24
= ...
15 years ago
christopher
so 48960?
15 years ago
Reiny
How did you possibly get that ???

amount = 2000(1.02)^24
= 2000(1.608437)
= 3216.87
15 years ago

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