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15-08-2017
Mathematics

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Calculate.

The amount to which $5,000 would grow in ten years at 6% compounded quarterly.

$ _____

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musiclover10045 musiclover10045

15-08-2017

5000 x (1 + 0.06/4)^(4*10)

5000 x (1.015^40)

5000 x 1.814018409 = 9070.09 total after 10 years

9070.09 - 5000 - 4070.09 in interest

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