How much money will Flora have at the end of 6 years on a $5000 investment earning 3.75% interest compounded quarterly?

1 Answer
Nallasivam V
Jan 15, 2018

Flora will have at the end of 6 years #=$.11,400#

Explanation:

Investment #=5000#
Interst #=3.5%#

# A = P(1+r)^(nt)#

Where -
A - Final value after 6 years
P - Principal amount
r - annual interst
nt - number of times interest to be calculated

#A = 5000(1+(3.5/100))^(6xx4)#
#A=5000(1+0.035)^24#
#A = 5000(1.035)^24#
#A = 5000xx 2.28 = 11,400#
Flora will have at the end of 6 years #=$.11,400#

Related questions
Impact of this question
350 views around the world
You can reuse this answer
Creative Commons License