Asked by Betty Wilcher
6% compounded interest quarterly for 5 years
Answers
Answered by
bobpursley
what is 100(1+.06/4)^20 ?That is 6 percent6 paid, and compounded quarterley for 20 quarters.
134.69
134.69
Answered by
Damon
20 quarter years in five years and 6%/4 = 1.5% per quarter
so
1.015^20 = 1.35
or 35 % gain
so
1.015^20 = 1.35
or 35 % gain
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