Answer to Question #171404 in Financial Math for King

Question #171404

Compound Amount

Adrian invests 350,000 at 16% interest compounded quarterly for 7 years. Find the compound amount of Adrian’s investment?

Expert's answer

"A=P(1+\\dfrac{r}{n})^{nt}"

Given

"P=350000"

"r=0.16"

"n=4"

"t=7"

"A=350000(1+\\dfrac{0.16}{4})^{4(7)}"

"A= 1,049,546.16"

Learn more about our help with Assignments: Math

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Compound AmountAbraham ace invested $200,000 at 14% interest compounded semi-annually for 8 years. W
2. Compound Amount(a) what is the simple interest on $30,000 for six months at a simple interest rate o
3. Compound amount2) (a) find the simple interest of 60,000 for one year at 10% (b) what is the compoun
4. Compound amount Aaron abbot invested 100,000 at 12% interest, compounded semi annually for 3 years.
5. Charlotte earns time-and-a-half onSaturdays and double time onSundays. She works 35 hours fromMonday
6. Charlotte earns time-and-a-half on Saturdays and double time on Sundays. She works 35 hours fromMond
7. 1. Amy made semiannual deposits of $3,100 at the beginning of every every six months into a fund