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Find the balance if 21000 is invested in an account paying 5 % interest compounded quarterly for 20 years.

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解答

Findthebalanceif21000isinvestedinanaccountpaying5%interestcompoundedquarterlyfor20years.

解答

Amount:56731.18
求解步骤
Translate the problem into an equation:A=21000(1+40.05​)4⋅20
21000(1+40.05​)4⋅20=56731.18375…
Round to the nearest hundredth:56731.18
Amount:56731.18

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