math

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

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asked by nichole
  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.

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    posted by Henry

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