CAS MA 121 : Homework_Problems_3

Sandy invest $1500 into an account with 3.5% interest, compounded quarterly. How much money will be in the account after 8 years? 

Sophie invests $12 000 at an interest rate of 3.8%, compounded quarterly (four times per year). How long will it take for Sophie’s investment to reach $30 000? Express your answer in years, correct to 1 decimal place.

Use the following formula:  where A = the amount of the investment, P = the original

amount invested (the principal), r = the interest rate (in decimal form), n = the number of compounding periods t = the number of years the principal is invested for

Sandy invest 1500$ into an account 3.5% interest compounded quart key how much money will be in the account after 8 years