Question

Find the amount at the end of 5 years if R17 535 is invested at 2.45% compounded quarterly.

Answer 1

compounded quarterly,n=4

$A=P(1+\frac{r}{n})^{nt}$

$=R17,535(1+\frac{0.0245}{4})^{4×5}$

$=17,535(1.006125)^{20}$

$=R19812.74$