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August 22, 2014

August 22, 2014

Posted by **samantha** on Tuesday, November 2, 2010 at 10:27pm.

The amount after 8 years will be $___

How much interest will be earned during the 8 years? _____

- algebra HELP ASAP -
**Henry**, Thursday, November 4, 2010 at 3:04pmr = 6% / 4 = 1.5% = 0.015 = Rate /qtr.

n = 8 yrs * 4 comp. /yr = 32 comp.

Pt = Po(1 + r)^n,

=13000(1.015)^32,

= 13000 * 1.6103 = 20934.22.

I = Pt - Po = 20934.22 - 13000 = 7934.22.

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