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Beliebt Word Problems >

If 9, 500 is invested at 10% compounded quarterly, how much will this investment be worth in 3 years?

Lösung

I f 9, 500 i s in v es t e d a t 10% co m p o u n d e d q u a r t er l y, h o w m u c h w i ll t hi s in v es t m e n t b e w or t h in 3 ye a rs ?

Lösung

Amount : 12776.44

Schritte zur Lösung

Translate the problem into an equation:

A = 9500 (1 + \frac{0.1}{4})^{4 \cdot 3}

9500 (1 + \frac{0.1}{4})^{4 \cdot 3} = 12776.44383 \dots

Round to the nearest hundredth:

12776.44

Amount : 12776.44

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