Sam Z. answered 07/30/20
Math/Science Tutor
Here's the formula: fv=p(1+int/c)^(nt)
future value
principal
int
compound
yrs
times/yr
so: fv=2000(1+.031/4)^(9*4)=$2607.73
Qwf Q.
asked 07/29/20Suppose that $2000 is invested at a rate of 3.1%, compounded quarterly. Assuming that no withdrawals are made, find the total amount after 9 years.Do not round any intermediate computations, and round your answer to the nearest cent.
$____________
Sam Z. answered 07/30/20
Math/Science Tutor
Here's the formula: fv=p(1+int/c)^(nt)
future value
principal
int
compound
yrs
times/yr
so: fv=2000(1+.031/4)^(9*4)=$2607.73
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