alexbob
contestada

HELP ASAP ON MY SEGMENT EXAM
If $300 is invested at a rate of 5% per year and is compounded quarterly, how much will the investment be worth in 20 years? Use the compound interest formula A equals P times the quantity 1 plus r divided by n end quantity raised to the power of n times t.. $810.45 $515.28 $384.61 $109.67

Respuesta :

abidemiokin

The amount the investment worth after 20 years will be $810.45

Compound interest

The formula for calculating the compound interest is expressed as;

A = P(1+r/n)^nt

Given the following parameters

P = $300

rate r = 5% = 0.05

time t = 20 years

Substitute

A =300(1+0.05/4)^4(20)
A = 300(1+0.0125)^80
A = 810.45

Hence the amount the investment worth after 20 years will be $810.45

Learn more on compound interest here: https://brainly.com/question/24924853

#SPJ1

Otras preguntas