Answered

Get reliable answers to your questions at Westonci.ca, where our knowledgeable community is always ready to help. Connect with a community of experts ready to provide precise solutions to your questions quickly and accurately. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

Amos deposits an amount of R 1260 in an account that pays 8,5% interest per year, compounded quarterly. After six years the amount in the account will be?

Sagot :

crisforp
FV = PV × (1+r)^n ; where FV = Future Value;
PV = Present Value;
r = annual interest rate;
n = number of periods;
FV = 1260 × 1.085^6 = 1260 × 1.63 ≈ 2054 ;
We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.