Solved

Use the Formula A=p(1+rn)ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t }

Question 228

Short Answer

Use the formula A=p(1+rn)ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t } to find the total amount of money accumulated at the end of the indicated time period for the following investment: $3,000 for 3 years at 2.5% compounded quarterly. Please round the answer to the nearest cent. $__________

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions