Asked by charissa
a couple deposits $4000 in an account that pays 5.9% annual interest compounded quarterly. What will be the value of their investment after 20yrs
Answers
Answered by
Damon
20*4 = 80 periods
rate per period = .059/4 = .01475
1.01475^80 = 3.226448959
*4000 = $12,905.80
rate per period = .059/4 = .01475
1.01475^80 = 3.226448959
*4000 = $12,905.80
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