Respuesta :
Answer:
Amount= $2933.2
Step-by-step explanation:
The interest of $2,500 principal earning with rate of 4%, compounded quarterly, after 4 years
A= p(1+r/n)^(nt)
P= $2500
r= 4/100= 0.04
t= 4
n = 4*4= 16
A= 2500(1+0.04/16)^(16*4)
A= 2500(1+0.0025)^(64)
A= 2500(1.0025)^64
A= 2500(1.17328)
A= 2933.2
Amount= $2933.2
Answer:
$2,931.45
Step-by-step explanation:
A(4) = 2500(1.01)^16
A(4) = 2500*1.1726
A(4) = $2931.45
