# 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

## 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.

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 · 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