Saturday

January 31, 2015

January 31, 2015

Posted by **Jim** on Friday, January 25, 2013 at 3:56pm.

- Math -
**Henry**, Saturday, January 26, 2013 at 7:10pmP = Po(1+r)^n.

Po = $20,000

r = (5.75%)/4) / 100% = 0.014375 =

Quarterly % rate expressed as a decimal.

n = 4Comp/yr * 1Yr=4Compounding periods.

Plug the above values into the given Eq

and solve for P. P = $21,175.04.

Int. = P-Po.

**Answer this Question**

**Related Questions**

Mathematics and investment - 1. Angelo wants to renovate his house in 3 years. ...

Math - Find how much interest $25,000 earns in 4 years in a certificate of ...

Math - Find how much interest $15,000 earns in 4 years in a certificate of ...

algebra HELP ASAP - If $13,000 is deposited in a bank account paying 6% ...

Alg 2 - Suppose you deposit a principal amount of p dollars in a bank account ...

Alg2 - Help....Help... Suppose you deposit a principal amount of p dollars in a ...

compound interest - 1. If you were to place $15,000 in the bank at 3% interest, ...

Math - $15,000 in the bank at 3% interest, how much would you have in the bank ...

business math/finance - 1. If you were to place $15,000 in the bank at 3% ...

math - Bob and Joy Salkind want to save $50,000 in 5 ½ years for home ...