Saturday

December 20, 2014

December 20, 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

**Answer this Question**

**Related Questions**

math - Suppose a young couple deposits $700 at the end of each quarter in an ...

Math - I need to find the equation for the following (compound interest): number...

math - A money market fund pays 14% annual interest compounded daily. What is ...

calculus - The proprietor of Carson Hardware Store has decided to set up a ...

Maths B - Kate is thinking about investing $45000 for 5 years. She deposits her ...

math - Djer invests $5000 each year into a mutual fund earning 6.15% compounded ...

Finance - On August 1, 2005 you invested $3,000 into a mutual fund. You then ...

MATH FOR LIBERAL ARTS - Maria just inherited $10,000. Her bank has a savings ...

compound interest - How do I solve these problems? Complete the table for a ...

college math - Suppose $400 is invested for 4 years at a nominal yearly interest...