math

what is the amount of the investment
1300 at 4% compounded quarterly for 6 years

1. 👍 0
2. 👎 0
3. 👁 71
1. Pt = Po(1+r)^n,

r APR / 4 = 4% / 4 = 1% = 0.01 = QPR =
Ouarterly percentage rate.

n=4 comp/yr * 6yrs = 24 comp. periods.

Pt = 1300(1.01)^24 = \$1650.66.

1. 👍 0
2. 👎 0
posted by Henry

Similar Questions

1. 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

asked by David B. on May 1, 2016
2. Precalc

suppose you want to invest \$60,000 for ten years. You can invest your money in a CD that earns 4% interest, compounded quarterly and has no risk, or you can invest your money in futures that ear 10% interest, compounded quarterly.

asked by Sophia on November 5, 2015
3. Math

Use the digits of your birthday as the amount of your initial investment (i.e., 6/25 is \$625), calculate the value of this investment after 10 years at 3.5% APR for interest compounded yearly, quarterly, monthly, and daily. What

asked by Abe on October 23, 2016
4. Math

Use the digits of your birthday as the amount of your initial investment (i.e., 6/25 is \$625), calculate the value of this investment after 10 years at 3.5% APR for interest compounded yearly, quarterly, monthly, and daily. What

asked by Otrava on July 18, 2017
5. Math! plz help!

When Cody's son was born, he put \$4,500 in an investment that earns 7% compounded semi-annually. This investment will mature when his son turns 18 and will go straight into an annuity at 4.75% compounded and paying out quarterly

asked by Thara! on April 10, 2010
6. math help plz!

When Cody's son was born, he put \$4,500 in an investment that earns 7% compounded semi-annually. This investment will mature when his son turns 18 and will go straight into an annuity at 4.75% compounded and paying out quarterly

asked by Thara! on April 10, 2010
7. College Algebra

Investment A: \$5,000 invested for 7 years compounded semiannually at 9%. Investment B: \$ 6,000 invested for 5 years compounded quarterly at 4.1%. Find each total for each investment and determine which investment results are

asked by Shawntee on January 6, 2011
8. Algebra 1

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

asked by Kaashif on May 1, 2016
9. MatHematics

After a 20 year period Josh's lump sum investment matures to an amount of R313550. How much did he invest if his money earned interest at a rate of 13,65% p.a compounded half yearly for the first 10years ,8,4% p.a compounded

asked by Nomuntle...Mphela on August 16, 2013