aigner
Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Experience the convenience of getting accurate answers to your questions from a dedicated community of professionals. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

Paige invested 1200 at an interest rate of 5.75% compounded quarterly. Determine the value of her investments in 7 years.

Sagot :

logo88
use the formula A=p(1+r)^n
where 
A= value of investment
r= rate
n= time period
p= amount invested
in this question 
r= 5.75% but compounded quarterly means divide this by 4
r= 23/1600
n=7*4
n=28
p= $1200
A=1200(1+23/1600)^28

A= $1789.54

Therefore the value of her investment in 7 years is $1789.54
Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.