posted by .

calculate the compound amount after 5 years for an investment of \$7,700 at 6% interest compounded quarterly.

P = 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

## Similar Questions

1. ### algebra- Help fast

use the compound interest formula A=P(1+r/n)^nt and A=Pe^rt to solve 1-Find the accumulated value of an investment of \$5000 at 9% compounded continuously for 6 years. 2-Find for an investment of \$700 at 16% compounded quarterly for …

To determine the compound amount of an investment of \$10,000 with an interest rate of 6% compounded monthly after 4 years requires you to use a table factor that goes beyond the Compound Interest Table. Calculate the new table factor …
3. ### compound interest math

calculate the compound interest on an investment of \$45,000 at 6% interest compounded quarterly fro 3 years
4. ### bmath

Ben invests \$19,500 at 12% interest compounded quarterly for 10 years. Calculate the compound amount for his investment.
5. ### Contemporary math

Using the Compound Interest Table, calculate the compound amount after 5 years for an investment of \$7,700 at 6% interest compounded quarterly. My answer is \$10,370.82 is this correct?
6. ### math compound interestt

calcualte the compound amount afterr 5 years for an investment of \$7,700 at 6% interest compounded quarterly
7. ### math

calculate the compound amount after 5 years for an investment of \$7,700 at 6% interest compounded quarterly

How to determine the compound amount of an investment of \$10,000 with an interest rate of 6%compounded monthly after 4 years requires you to use a table factor that beyond the compound Interest table. In how do you calculate the new …
9. ### math

Scott invests \$1,500, at 12% interest, compounded quarterly for 8 years. Use Table 11-1 to calculate the compound amount for his investment
10. ### Math/Compound Interest

1. Use the compound interest table to find the compound amount earned on a \$5,900 deposit for 10 years at 10% compounded semiannually. _____________________________________ A. 9,610.45 b. 15,654.47 c. 3,710.45 d. 12,375.66 2. Megan …

More Similar Questions