An investment of $7,650 earns interest at the rate of 5% and is compounded quarterly. What is the accumulated value of the investment at the end of 9 years?
+23254 Compound interest formula: A = P(1 + r/n)^(n·t)
A = final amount P = initial amount = 7650.00 r = rate (as a decimal) = 0.05
t = number of years = 9 n = number of time compounded per year = 4
---> A = 7650(1 + 0.05/4)^(4·9)
Enter that into the calulator to get the final amount.
+23254 Compound interest formula: A = P(1 + r/n)^(n·t)
A = final amount P = initial amount = 7650.00 r = rate (as a decimal) = 0.05
t = number of years = 9 n = number of time compounded per year = 4
---> A = 7650(1 + 0.05/4)^(4·9)
Enter that into the calulator to get the final amount.
