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)
$2000 is compounded quarterly at a rate of 8% for 6 years. (Round to nearest Hundereths as needed)
Answers
Reiny
amount = 2000(1.02)^24
= ...
= ...
christopher
so 48960?
Reiny
How did you possibly get that ???
amount = 2000(1.02)^24
= 2000(1.608437)
= 3216.87
amount = 2000(1.02)^24
= 2000(1.608437)
= 3216.87