Answered

Welcome to Westonci.ca, where curiosity meets expertise. Ask any question and receive fast, accurate answers from our knowledgeable community. Get quick and reliable solutions to your questions from knowledgeable professionals on our comprehensive Q&A platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

If $300 is invested at a rate of 6% per year and is compounded quarterly, how much will the investment be worth in 12 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..

Sagot :

The future value of the investment is 6,130.43.

What is the future value of the investment?

When an investment earns a compound interest that is compounded quarterly, it means that both the amount invested and the interest accrued would increase in value every quarter.

The formula that can be used to determine the future value is:

FV = P (1 + r)^nm

Where:

  • FV = Future value
  • P = Present value
  • R = interest rate : 6% / 4 = 1.5%
  • m = number of compounding
  • N = number of years

3000 x (1.015)^(12 x 4) = 6,130.43

To learn more about future value, please check: https://brainly.com/question/18760477

#SPJ1

Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.