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October 22, 2014

October 22, 2014

Posted by **Amy** on Tuesday, April 9, 2013 at 5:00am.

- UOG -
**Henry**, Wednesday, April 10, 2013 at 7:02pmP = Po(1+r)^n.

Po = $12,000

r = (4%/4)/100% = 0.01 = Quarterly % rate expressed as a decimal.

n = 4Comp./yr. * 2yrs. = 8 Compounding periods.

Plug the above values into the given Eq.

and get $12,994.28.

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