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August 23, 2014

August 23, 2014

Posted by **theriti0** on Monday, July 8, 2013 at 1:33pm.

- Math -
**Reiny**, Monday, July 8, 2013 at 2:20pmI will assume that the interest rate is 14.5% per annum compounded quarterly, or else we have a much more complicated calculation

amount = 59( (1 + .145/4)^44 - 1)/(.145/4)

= 59(1.03625^44 - 1)/.03625 = $6170.43

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