You deposit $1,000 for 4 years at an interest rate 2.0%.If the interest is compounded quarterly ,how much money do you have after the four years?

ANSWERS

2015-11-17 00:40:36

A = P (1 + r/n)^nt A = 1000(1 + 0.02/4)^16 A = 1000(1.005)^16 A = 1083.07 answer $1,083.07 after the four years

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