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December 19, 2014

December 19, 2014

Posted by **Shawntee** on Thursday, January 6, 2011 at 8:05pm.

Investment B: $ 6,000 invested for 5 years compounded quarterly at 4.1%.

Find each total for each investment and determine which investment results are greater.

- College Algebra -
**Reiny**, Thursday, January 6, 2011 at 9:19pmA: amount = 5000(1.045)^14 = ....

b: amount = 6000(1.01025)^20 = ....

- College Algebra -
**helper**, Thursday, January 6, 2011 at 9:24pmA(t) = P (1 + r/n)^nt

P = 5000, t = 7, r = .09, n = 2

A(7) = 5000 (1 + .09/2)^2(7)

A(7) = 5000 (1 + 0.045)^14

A(7) = 5000 (1.045)^14

A(7) = $9259.72 interest

5000 + 9259.72 = 14259.72

A(t) = P (1 + r/n)^nt

P = 6000, t = 5, r = .0410, n = 4

A(7) = 6000 (1 + .0410/4)^4(5)

A(7) = 6000 (1 + 0.01025)^20

A(7) = 6000 (1.01025)^20

A(7) = $7357.47 interest

6000 + 7357.47 = 13357.47

check my math

I am not a tutor

- College Algebra -
**Anonymous**, Saturday, May 21, 2011 at 6:46am30000(e.055.5)

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