math

the compound amount on an investment of $8,500 at 12% interest, compounded quarterly, for 1 year.

  1. 👍 0
  2. 👎 0
  3. 👁 183
  1. P = Po(1+r)^n

    Po = $8500

    r = (12%/4)/100% = 0.03 = Quarterly %
    rate expressed as a decimal.

    n = 1yr * 4comp/yr. = 4 compounding
    periods.

    Plug the above values into the given Eq and sole for P.

    1. 👍 0
    2. 👎 0

Respond to this Question

First Name

Your Response

Similar Questions

  1. compound interest math

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

  2. bmath

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

  3. businesss math

    Refer to Narrative 11-1. Calculate The compound interest on an investment of $7,500 at 8% intrest, compounded quarterly, for 8 years

  4. algebra

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

  1. 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.

  2. PreCalc

    Which investment option will pay the most interest? A. 12.6% compounded annually B. 12.4% compounded semiannually C. 12.2% compounded quarterly D. 12.0% compounded continuously E. These investments all pay the same amount of

  3. Algebra

    An investment grows according to the exponential equation y = 15,000 ยท 1.07x, where x is the number of years invested. Which of the following statements is true? A. The investment will continue to grow at a rate of 7% per year

  4. math

    An amount of $5000 is invested at an interest rate of 7% per year, compounded quarterly. Find the value A(t) of the investment after t years.

  1. Alg 2

    Suppose you deposit a principal amount of p dollars in a bank account that pays compound interest. If the annual interest rate r (expressed as a decimal) and the bank makes interest payments n times every year, the amount of money

  2. finance

    Jose invests $4000 in an investment account paying 8% annually for 12 years. Suppose the interest was compounded quarterly instead of annually. How much would the future value of the investment increase? Enter your answer as a

  3. math

    Compute the compound quarterly amount after 1 year for $100 invested at 12% interest compounded quarterly. What simple interest rate will yield the same amount in 2 years?

  4. 12th grade Math - word problems

    #1.) The population of bacteria after t hours is given by P(t) = 500/(1+83.33e^-0.162t) a.) What is the initial population? b.) When will the amount of bacteria in the population be 12? #2.) Which investment yields the greater

You can view more similar questions or ask a new question.