# finance

\$11,000, invested for 9 years at 3% compounded quarterly.

1. 👍 0
2. 👎 0
3. 👁 213
1. P = Po(1+r)^n

Po = \$11,000

r = (3%/4)/100% = 0.0075 = Quarterly
% rate expressed as a decimal.

n = 4comp./yr. * 9yrs. = 36 Compounding
periods.

Plug the above values into the given Eq
and solve for P(principal).

1. 👍 0
2. 👎 0

## Similar Questions

1. ### maths

Ty received a separation payment of \$25 000 from his former employer when he was 35-years old. He invested that sum of money at 5.5% compounded semi-annually. When he was 65, he converted the balance into an ordinary annuity

2. ### Economics

A man wishes to bequeath to his daughter P20,000 ten years from now. What amount should he invest now if it will earn interest of 8% compounded annually during the first 5 years and 12% compounded quarterly during the next 5

3. ### trig

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

4. ### Math

Ernie invested \$5,000 in an account for 3 years at 4% interest compounded quarterly Inflation over the period averaged 2% per year. a. Calculate the value of the investment after 3 years b. find the real rate of return on the

1. ### UOG

An initial investment of \$12,000 is invested for 2 years in an account that earns 4% interest compounded quarterly. Find the amount of mnoey in the account at the end of the period.

2. ### Math , check my answer ?

Lynne invested \$35,000 into an account earning 4% annual interest compounded quarterly. She makes no other deposits into the account and does not withdraw any money. What is the balance of Lynne's account in 5 years? \$37,153.21

3. ### Mathematics

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

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

If \$86,000 is invested in an annuity that earns 5.2%, compounded quarterly, what payments will it provide at the end of each quarter for the next 3½ years?

2. ### math

What is \$600 invested at 9% interest, compounded quarterly, worth in 3 years? a. \$640.50 b. \$641 c.\$762 d.\$784

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

Find the accumulated amount A, if the principal P is invested at an interest rate of r per year for t years. P = \$2500, r = 3%, t = 3, compounded quarterly \$ ?