Monday
May 20, 2013

# Homework Help: math

Posted by nichole on Sunday, July 3, 2011 at 8:31am.

what is the amount of the investment
1300 at 4% compounded quarterly for 6 years

• math - Henry, Monday, July 4, 2011 at 4:29pm

Pt = Po(1+r)^n,

r APR / 4 = 4% / 4 = 1% = 0.01 = QPR =
Ouarterly percentage rate.

n=4 comp/yr * 6yrs = 24 comp. periods.

Pt = 1300(1.01)^24 = \$1650.66.

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