Asked by Katherine
How do I calculate the future value of the following?
$5,000 compounded annually at 12% for 2 years
$5,000 compounded semiannually at 12% for 2 years
$5,000 compounded quarterly at 12% for 2 years
$5,000 compounded monthly at 12% for 2 years
$5,000 compounded annually at 12% for 2 years
$5,000 compounded semiannually at 12% for 2 years
$5,000 compounded quarterly at 12% for 2 years
$5,000 compounded monthly at 12% for 2 years
Answers
Answered by
Mike
Walter's savings account has a balance of $273. After 5 years, what will the amount of interest be at 5% compounded quarterly?
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