Question

Compound Interest Question
James has 10,000 to invest. If he invest money in a savings account that pays 4% APR, calculate the following:

a) how long will it take to have a total of 15,000 if interest is compounded quarterly (3months)?

b)how much will he have after 7yrs if interest is compounded yearly? monthly?

Apr 28, 2013

254

Jun 19, 2015

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