trig

If \$5000 is invested at a rate of 3% interest compounded quarterly, what is the value of the investment in 5 years?

1. 👍
2. 👎
3. 👁
1. 5000(1+.03/4)^(4*5) = 5805.92

1. 👍
2. 👎
2. 21239.2555

1. 👍
2. 👎

Similar Questions

1. algebra

determine the amount of an investment if \$500 is invested at an interest rate of 4.25% compounded quarterly for 12 years?

2. math

Steve wants to have \$25000 in 25 years, he can only get 3.2% interest compounded quarterly. his bank will guarantee the rate for either 5 or 8 years in 5 years he can get 4% compounded quarterly for the remainder of the term in 8

3. Algebra

If Don Gecewicz invests \$5000 at 9% interest compounded quarterly, find the amount after 4 years.

4. math-finance

Colin borrowed some money at 7.16%?a compounded quarterly. three years later. he paid \$5000 toward the principal and the interest. after another two years, he paid another \$5000. after another five years, he paid the remainder of

1. Mathematics

Find the interest earned if RM 7500 is invested for 6 years at 6.4% compounded quarterly.

2. Algebra

Given the equation A=250(1.1)t, you can determine that the interest is compounded annually and the interest rate is 10%. Suppose the interest rate were to change to being compounded quarterly. Rewrite the equation to find the new

3. Precalc

David invested \$340 in an account paying an interest rate of 2 1/8​% compounded continuously. Natalie invested \$340 in an account paying an interest rate of 2 3/4% compounded quarterly. After 17 years, how much more money would

4. math

f \$3800 is invested in a savings account for which interest is compounded quarterly, and if the \$3800 turns into \$4300 in 2 years, what is the interest rate of the savings account?

1. Math

Serena wants to borrow \$15 000 and pay it back in 10 years. Interest rates are high, so the bank makes her two offers: • Option 1: Borrow the money at 10%/a compounded quarterly for the full term. • Option 2: Borrow the money

2. math models

If \$3800 is invested in a savings account for which interest is compounded quarterly, and if the \$3800 turns into \$4300 in 2 years, what is the interest rate of the savings account?

3. math

if don gecewicz invested \$6000 at 8% interest compounded quarterly, find the amount after 7 years

4. math

Find the interest earned if RM 7,500 is invested for six years 6.4% compounded quarterly.