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April 25, 2014

April 25, 2014

Posted by **bria** on Friday, July 6, 2012 at 8:41pm.

- math -
**Henry**, Sunday, July 8, 2012 at 4:11pmP = Po(1+r)^n.

Po = $5,000.

r = (3%/4) / 100% = 0.0075 = Quarterly %

rate expressed as a decimal.

n = 4Comp./yr * 5yrs = 20 Compounding

periods.

Plug the above values into the given Eq.

Answer: $5805.92.

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