Algebra

Find the accumulated value of an investment of $700 at 16%compounded quarterly for 2 years.

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asked by EDWARD
  1. 16%compounded quarterly for 2 years.
    ----> i = .08, n = 4

    Amount = 700(1.08)^4
    = ....

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    posted by Reiny
  2. I don't know why I read that as semi-annually
    so
    i = .04
    n = 8

    amount = 700(1.04)^8
    = 958.00

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    posted by Reiny

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