i need help with this problem?help please:)
what will an investment of 20,000 amount to after 34 months if it earns 6.5% p.a compounded monthly?

Question

anonymous · Answer

Do you know the equation you can plug into

anonymous · Answer

i think its p=(1+r/4)^4

tkhunny · Answer

Not bad, but you're missing a few pieces.

You have quarterly and you need monthly.
You have 4 periods and you need 34.
You don't have the initial deposit.

$Accumulation = 20000\cdot\left(1 + \dfrac{0.065}{12}\right)^{34}$

anonymous · Answer

do i have to solve for that equation?

anonymous · Answer

yes

anonymous · Answer

ok

tkhunny · Answer

"Solve"?  Not really.  It's a calculation problem from there.  Maybe "resolve".

You need to find all the parts.
20000 the initial payment
4 the numer of periods per year
34 the total number of periods
0.065 the annual interest to be compounded as specified

anonymous · Answer

so if i solve it and calculate it then i get my final answer