Tuesday

July 22, 2014

July 22, 2014

Posted by **Yvonne** on Sunday, March 18, 2012 at 6:10pm.

- accounting -
**Henry**, Monday, March 19, 2012 at 11:43pmPt = Po(1+r)^n.

r=(7.5%/4) / 100%=0.01875 = Quarterly % rate expressed as a decimal.

n = 4Comp./yr * 20yrs = 80 Compounding

periods.

Pt = 7000(1.01875)^80 = $30,939.11

**Related Questions**

accounting - Find the ending balance in an account that opens with $9,000, earns...

Math - Find the ending balance in an account that opens with $5,000, earns 7.5% ...

math - Find the ending balance in an account that opens with $6,000, earns 6.5% ...

math - Find the ending balance in an account that opens with $5,000, earns 2.5% ...

ALGEBRA - Find the ending balance in an account that opens with $5,000, earns 7....

ALGEBRA - Find the ending balance in an account that opens with $5,000, earns 7....

ALGEBRA - Find the ending balance in an account that opens with $5,000, earns 7....

algebra - Find the ending balance in an account that opens with $6,000, earns 4....

ALGEBRA - Find the ending balance in an account that opens with $5,000, earns 7....

Math - Find the ending balance in a account that opens with 6,480, earns 8.5% ...