50 * 4 = 200, rate compounded quarterly
P (1 + r / 100)^n
350 * (1 + 1.5 / 100)^200
350 * (1 + 0.015)^200
350 * (1.015)^200
350 * 19.643
$6875.06
You plan to invest $350 in a growth fund that has a rate of 1.5% compounded quarterly.
How much money will this investment be worth after 50 years?
Round your answer to the nearest cent, and enter it with a dollar sign, like this: $42.53
2 answers
thx
1 answer