alexbob
Answered

Westonci.ca is the best place to get answers to your questions, provided by a community of experienced and knowledgeable experts. Ask your questions and receive precise answers from experienced professionals across different disciplines. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

HELP ASAP ON MY SEGMENT EXAM
If $300 is invested at a rate of 5% per year and is compounded quarterly, how much will the investment be worth in 20 years? Use the compound interest formula A equals P times the quantity 1 plus r divided by n end quantity raised to the power of n times t.. $810.45 $515.28 $384.61 $109.67

Sagot :

abidemiokin

The amount the investment worth after 20 years will be $810.45

Compound interest

The formula for calculating the compound interest is expressed as;

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

Given the following parameters

P = $300

rate r = 5% = 0.05

time t = 20 years

Substitute

A =300(1+0.05/4)^4(20)
A = 300(1+0.0125)^80
A = 810.45

Hence the amount the investment worth after 20 years will be $810.45

Learn more on compound interest here: https://brainly.com/question/24924853

#SPJ1

Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.