Answer to Question #267404 in Financial Math for Ayana Prica

Question #267404

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

Expert's answer

compounded quarterly,n=4

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

"=R17,535(1+\\frac{0.0245}{4})^{4\u00d75}"

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

"=R19812.74"

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