1
answer
0
watching
255
views
10 Nov 2019
Use the compound interest formula A = P(1 + i)^n, where P is the original value of an investment, i is the interest rate per compounding period, n is the total number of compounding periods, and A is the value of the investment after n periods. An investment broker deposits $5000 into an account that earns 12% annual interest compounded quarterly. What is the value of the investment after 2 years? Round to the nearest dollar.
Use the compound interest formula A = P(1 + i)^n, where P is the original value of an investment, i is the interest rate per compounding period, n is the total number of compounding periods, and A is the value of the investment after n periods. An investment broker deposits $5000 into an account that earns 12% annual interest compounded quarterly. What is the value of the investment after 2 years? Round to the nearest dollar.
Trinidad TremblayLv2
10 Nov 2019