Inactive Tutor answered • 06/19/18
Tutor
New to Wyzant
F = P(1+r/n)nt
F = 13000(1+0.16/4)4*3
F = 13000(1.04)12
F = $20813.42
Stacey H.
asked • 06/19/18find the amout
The principal $13000 is accumulated with 16% interest compounded quarterly for 3 years
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2 Answers By Expert Tutors
Inactive Tutor answered • 06/19/18
Tutor
New to Wyzant
A(3) = 13,000(1+0.16/4)12 = 13,000)1.04)12
=13,000(1.601032219 = $20,813.42
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