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Phổ biến >

If 800 is invested at an interest rate of 3.75% per year, compounded quarterly, find the value of the investment after 2 years

Lời Giải

If 800 is invested at an interest rate of 3.75% per year, compounded quarterly, find the value of the investment after 2 years

Lời Giải

Amount : 862.01

Các bước giải pháp

Translate the problem into an equation:

A = 800 (1 + \frac{0.0375}{4})^{4 \cdot 2}

800 (1 + \frac{0.0375}{4})^{4 \cdot 2} = 862.00609 \dots

Làm tròn đến hundredth gần nhất:

862.01

Amount : 862.01

Ví dụ phổ biến

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