Posted by **Karen** on Monday, March 9, 2009 at 6:52pm.

You deposit $1000 in an account at the Lifelong Trust Savings and Loan that pays 7% interest compounded quarterly. By how much will your deposit have grown after 4 years?

- Math -
**Karen**, Monday, March 9, 2009 at 6:57pm
You invest $10,000 in Rapid Growth Funds, which appreciate by 1% per year, with yields reinvested quarterly. By how much will your investment have grown after 6 years?

- Math -
**Katy**, Monday, March 9, 2009 at 7:02pm
for the deposit, use thsi as your equation:

1000(1+.07)^4

for the investment in RGF use this as your equation:

10000(1+.01)^6

Just plug them into a calulator to solve.

## Answer this Question

## Related Questions

- Finance - You deposit $1000 in an account that pays 8% interest compounded ...
- Math - 1. When their child was born, Elaine and Mike Porter deposited $5,000 in ...
- Finance - You deposit a single amount of $50,000 in a savings account that pays ...
- math - Choi deposited $2500 in a savings account that pays 4.75% interest ...
- Math - (a) Themba wants to deposit a sum of money into a savings account so that...
- Alg 2 - Suppose you deposit a principal amount of p dollars in a bank account ...
- Alg2 - Help....Help... Suppose you deposit a principal amount of p dollars in a ...
- math - You deposit $7,900 in a money-market account that pays an annual interest...
- Math - You deposit $6,700 in a money-market account that pays and annual ...
- math - You deposit $6,700 in a money-market account that pays an annual interest...