Posted by artyst on Monday, July 1, 2013 at 6:46am.
calculate the compound interest on an investment of $45,000 at 6% interest compounded quarterly fro 3 years

compound interest math  MathMate, Monday, July 1, 2013 at 9:01am
calculate the compound interest on an investment of $45,000 at 6% interest compounded quarterly fro 3 years
Formula for compound interest:
A=P(1+i)^n
A=amount at the end of n periods (future value)
P=amount invested (present value)
i=interest per compounding period. 6% per annum is equivalent to 1.5% per 3 months, the compounding period.
n=number of periods.
Use your calculator to find
A=45000(1+0.015)^(3*4)
Answer This Question
Related Questions
 Math/Compound Interest  1. Use the compound interest table to find the compound...
 Contemporary math  Using the Compound Interest Table, calculate the compound ...
 investing  Lily invests $4,000, at 6% interest, compounded quarterly for 5 ...
 math  calculate the compound interest on an investment of $18,000 at 8% ...
 math  Carla invests $3,000, at 8% interest, compounded quarterly for 1 year. ...
 math/compound  Calculate the interest earned on an investment of 2500 invested ...
 math  Compute the amount of compound interest earned in 1 year for an ...
 compemtary math  . To determine the compound amount of an investment of $10,...
 math  Brianna invests $3,500, at 12% interest, compounded quarterly for 1 year...
 business math  compute the amount of compound interest earned in 1 year for an ...
More Related Questions