compound interest math

calculate the compound interest on an investment of $45,000 at 6% interest compounded quarterly fro 3 years

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  1. calculate the compound interest on an investment of $45,000 at 6% interest compounded quarterly fro 3 years

    Formula for compound interest:
    A=P(1+i)^n
    A=amount at the end of n periods (future value)
    P=amount invested (present value)
    i=interest per compounding period. 6% per annum is equivalent to 1.5% per 3 months, the compounding period.
    n=number of periods.
    Use your calculator to find
    A=45000(1+0.015)^(3*4)

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