Wednesday

November 26, 2014

November 26, 2014

Posted by **Anonymous** on Sunday, May 13, 2012 at 12:46pm.

- algebra -
**MathMate**, Sunday, May 13, 2012 at 3:06pmUse

P(1+r)^n

Since interest is compounded quarterly,

the interest rate has to be divided by 4 to get the quarterly rate. The number of periods (years) has to be multiplied by 4 to get quarters.

P=500

R=(1+0.0425/4)

n=12*4=48

So

500*(1+0.0425/4)^48

=830.41

**Answer this Question**

**Related Questions**

Algebra - Determine the amount of an investment if $500 is invested at an ...

Algebra - I need to determine the amount of an investment if $1000 is invested ...

compounded interest - calculate the future value of an investment of $8,500 if ...

Math, please! - I need to determine the amount of an investment if $1000 is ...

Algebra 1 - Find the final amount of an investment if $2,000 is invested at an ...

College Algebra - Investment A: $5,000 invested for 7 years compounded ...

math - An amount of $5000 is invested at an interest rate of 7% per year, ...

Algebra - Need help with these--- 30. Suppose the area of a square is x^2 - 6x...

algergra - determine the amount of an inverstment if 400.00 is invested at an ...

math - Compute the compound quarterly amount after 1 year for $100 invested at ...