Asked by mark
what will a deposit of 4500 be worth if left in the bank for 5 years at 8% compounded quarterly?
Answers
Answered by
Damon
20 time periods at r = .08/4 = .02
so
4500 (1.02)^20
= 4500 (1.4859)
=6686.76
so
4500 (1.02)^20
= 4500 (1.4859)
=6686.76
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.