Question

Investment Problems

Harley invested $4500 at 6.5% interest compounded quarterly


How much would the same investment be worth if the interest were compounded monthly instead?
A) $6,222.68
B) $5,820.35
C) $5,540.00
D) $5,935.25 Investment Problems

Harley invested $4500 at 6.5% interest compounded quarterly


How much would the same investment be worth if the interest were compounded monthly instead?
A) $6,222.68
B) $5,820.35
C) $5,540.00
D) $5,935.25 @Mathematics

Answer 1

other help!!

Answer 2

i dont have a calculater with me right now, but it will be closely the same

Answer 3

Are you familiar with Present Worth and Future Worth factors?

Answer 4

not really ! ?

Answer 5

Okay. We need to know how many years the investment is invested for.

Answer 6

i think if nothing is mention it is for one year only

Answer 7

wait what?!?!

Answer 8

None of those answers are correct for a one year investment.

Use the following formula, \[I = I_0 \left( 1 + {r \over n} \right) ^{nt}\]where r is the interest rate in decimal form, n is the number of compounding periods, and t is the investment time in years. n = 4 for quarterly and 12 for monthly.

Answer 9

AWWWWW I GOT IT :D !!! i found a web site that helps me on it thank u!! for helping : )!

Answer 10

cool