# math

posted by .

please help how do you figure out the compound interest on \$8,000 invested for one year at 6% compounded quarterly. rounded to the nearest dollar

• math -

1.5% (1/4 of 6%) interested is added each quarter. After four quarters, the value of the account is
8000*(1.015)^4 = \$8491.

If interest had been compounded annually instead of quarterly, then the amount at the end of one year would be 8000*1.06 = \$8480.

## Similar Questions

1. ### math

What would be the compounded interest on \$8,000 invested for onr year AT 6%, compounded quarterly?

I know how to do simple interest on a loan but how would I figure compound interest on a loan \$8,000 invested for one year at 6% compounded quarterly ?
3. ### math

Please help I know to figure out simple interest but what is the best way to figure out compound interest example 8,000 invested for one year at 6 % compounded quarterly (with the answer rounded to the nearest dollar
4. ### Math

I really need help with this problem I am not getting it at all anyhelp would be great thanks What would be the amount of compound interest on \$8,000 invested for one year at 6% compounded quarterly ?
5. ### MATH

What wold be the amount of coumpound interest on \$8,000 invested for one year at 6%,compounded quaterly?
6. ### MATH

What would be the amount of coumpound interest on \$8,000 invested for one year at 6%,compounded quaterly?
7. ### math

what would be the amount of compound interest on %6,000 invested for 2 years att 9%, compounded semiannually?
8. ### Math

What would be the amount of compound interest on \$8,000 invested for one year at 6%, compounded quarterly?
9. ### math

compounded- what would be the amount of compound interest on \$12,000 invested for one year at 6%, compounded quarterly?
10. ### Math

What would be the amount of compound interest on \$8,000 invested for one year at 6%, compounded quarterly?

More Similar Questions