Answered

IDNLearn.com provides a reliable platform for finding accurate and timely answers. Our experts are ready to provide prompt and detailed answers to any questions you may have.

The basic equation for calculating compound interest is A = P(1 + nt.
If $1,200 is invested at an interest rate of 8% per year, compounded quarterly, how much will the
investment be worth at the end of 10 years?
Show your work!

The Basic Equation For Calculating Compound Interest Is A P1 Nt If 1200 Is Invested At An Interest Rate Of 8 Per Year Compounded Quarterly How Much Will The Inv class=

Sagot :

Adioabiolaidn

The amount of the investment at the end of the 10 years period if compounded quarterly is $2,649.6.

Compound interest

  • Principal, P = $1200
  • Interest rate, r = 8% = 0.08
  • Time, t = 10
  • Number of period, n = 4

A = P(1 + r/n)^nt

= 1200(1 + 0.08/4)^(4×10)

= 1200(1 + 0.02)^40

= 1200(1.02)^40

= 1200(2.208)

= $2,649.6

Learn more about compound interest:

https://brainly.com/question/24924853

#SPJ1

Thank you for using this platform to share and learn. Keep asking and answering. We appreciate every contribution you make. Thank you for visiting IDNLearn.com. We’re here to provide accurate and reliable answers, so visit us again soon.