constance898 constance898

22-05-2021
Mathematics

contestada

You deposit $1000 in an account that pays 2% annual interest compounded quarterly. How much will you have
after 8 years?

Respuesta :

serakuyar serakuyar

22-05-2021

Answer :
1,173.04

Explanation:
Use the compound interest formula which is P(1 + r/n)^(nt) and plug in your numbers:

1000(1+0.02/4)^(4•8)

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