alexbob
Answered

Discover the answers to your questions at Westonci.ca, where experts share their knowledge and insights with you. Connect with a community of experts ready to help you find accurate solutions to your questions quickly and efficiently. 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

We hope this was helpful. Please come back whenever you need more information or answers to your queries. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.