Posted by **Dave** on Sunday, January 27, 2013 at 8:12pm.

A $2,000 deposit at an APR of 5.4% with quarterly compounding for 8 years. The amount after 8 years will be??

- MATH HELP -
**Damon**, Sunday, January 27, 2013 at 8:16pm
Enough already. By now if you are paying any attention you should be able to post at least an attempt at an answer.

- MATH HELP -
**Damon**, Sunday, January 27, 2013 at 8:19pm
rate is .054 /4

number of periods = 4*8 = 32

- MATH HELP -
**Dave**, Sunday, January 27, 2013 at 8:24pm
I did that and it said it was wrong I need the amount after 8 years how do I do that

- MATH HELP -
**Damon**, Sunday, January 27, 2013 at 8:43pm
.054/4 = .0135

that is your quarterly rate so every 3 months multiply by

1.0135

1.0135^32 = 1.53589

so multiply 2,000 by that. 3071.78

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