Ask a New Question

Question

Using the Compound Interest Table, calculate the compound amount after 5 years for an investment of $7,700 at 6% interest compounded quarterly. My answer is $10,370.82 is this correct?
12 years ago

Answers

Steve
7700(1+.06/4)^(4*5) = 10,370.78

Looks good to me.
12 years ago
Dawn
Compound amount after 5 years for an investment of $7,700 at 6% interest compounded quarterly? What is the amount of compound interest for the invesment
11 years ago

Related Questions

compound and interest Using the below values please calculate the amount accumulated (futur... 1. Use the compound interest table to find the compound amount earned on a $5,900 deposit for 10 yea... What is the compound interest on a $40,000 loan @ 16% for 3 years? The compound interest on Rs.1,000 at 6% compounded semi-annually for 6 years is: Compound Interest A Interest paid on the principal and the interest of a deposit or loan. B Perce... How does a compound interest rate differ from a simple interest rate? (1 point) Responses Com... Compound interest is an example of exponential growth. A=P(1+r/n)^nt A = the Response area P... Compound interest is an example of exponential growth. A=P(1+r/n)^nt A = the ______ P = the __... Compound interest has more of an impact for _____ investments. Compound interest has more of an impact for long-term investments. Why?
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use