4804112280 4804112280
  • 03-03-2020
  • Mathematics
contestada

$750 is invested at 11% compounded quarterly. how much is the account after 10 years?

Respuesta :

wassuu123456
wassuu123456 wassuu123456
  • 04-03-2020

Answer:

F= $2219.91

Step-by-step explanation:

[tex]F=P(1+i)^{n}[/tex]

Here

F= value of money after 10 years

P= present value

i= interest

n= number of compound on money

P=$750   i = 11%/4=0.0275 n=10x4= 40

[tex]F=750(1+0.0275)^{40}[/tex]

[tex]F=750(1.0275)^{40}[/tex]

[tex]F=750(2.96)[/tex]

F= $2219.91

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