regb6476 regb6476
  • 07-05-2018
  • Mathematics
contestada

Use the given information to find the amount aa in the account earning compound interest after 6 years when the principal is $3500. r=2.16%r=2.16%, compounded quarterly the amount after 6 years is $ .

Respuesta :

TheBusinessMan
TheBusinessMan TheBusinessMan
  • 08-05-2018
$3,982.92

Equation for compound interest:
A = P (1+r/n)^nt

P = 3500
r = .0216
n = 4
t = 6
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