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Beliebt Word Problems >

Find the accumulated value of an investment of 1400 at 8% compounded quarterly for 4 years.

Lösung

F in d t h e a cc u m u l a t e d v a l u e o f an in v es t m e n t o f 1400 a t 8% co m p o u n d e d q u a r t er l y f or 4 ye a rs .

Lösung

Amount : 1921.9

Schritte zur Lösung

Translate the problem into an equation:

A = 1400 (1 + \frac{0.08}{4})^{4 \cdot 4}

1400 (1 + \frac{0.08}{4})^{4 \cdot 4} = 1921.89998 \dots

Round to the nearest hundredth:

1921.9

Amount : 1921.9

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