Monday

March 2, 2015

March 2, 2015

Posted by **Tee** on Thursday, June 27, 2013 at 10:19pm.

- Business Math -
**Henry**, Saturday, June 29, 2013 at 2:41pmP = Po(1+r)^n.

Po = $7700.

r = (6%/4)/100% = 0.015 = Quarterly % rate expressed as a decimal.

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

periods.

Plug the above values into the given Eq and get:

P = $10,370.78

**Answer this Question**

**Related Questions**

math - calculate the compound amount after 5 years for an investment of $7,700 ...

Contemporary math - Using the Compound Interest Table, calculate the compound ...

math compound interestt - calcualte the compound amount afterr 5 years for an ...

Business Math - How to determine the compound amount of an investment of $10,000...

Business Math - To determine the compound amount of an investment of $10,000 ...

math - Scott invests $1,500, at 12% interest, compounded quarterly for 8 years. ...

algebra- Help fast - use the compound interest formula A=P(1+r/n)^nt and A=Pe^rt...

bmath - Ben invests $19,500 at 12% interest compounded quarterly for 10 years. ...

compound interest math - calculate the compound interest on an investment of $45...

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