Homework Help: Math

Posted by christopher on Saturday, April 17, 2010 at 5:45pm.

Find total amount in the compound intrest account.

$2000 is compounded quarterly at a rate of 8% for 6 years. (Round to nearest Hundereths as needed)

Math - Reiny, Saturday, April 17, 2010 at 8:41pm
amount = 2000(1.02)^24
= ...
Math - christopher, Saturday, April 17, 2010 at 8:59pm
so 48960?
Math - Reiny, Saturday, April 17, 2010 at 9:07pm
How did you possibly get that ???

amount = 2000(1.02)^24
= 2000(1.608437)
= 3216.87

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