Question

If you invest $25,000 in an account that gets 12% annual interest
compounded quarterly, how much would you have in 10 years.

Answer 1

start again!:

after 10 years amount = 25000(1 + (0.12)/4)^(10*4)

Answer 2

okay.. so what would that be ?

Answer 3

this simplifies to
25000(1.03)^40
- you can compute that on your calculator

Answer 4

you should get 81,550.94 dollars

Answer 5

the general formular is

A = P(1 + N/r)^(Nn)

where P = principal (starting amount), r = annual rate, N = number of times per year the interest is compounded, and n = number of years

Answer 6

ok?

Answer 7

okay so whats does it look like all finished?>

Answer 8

well thats it the amount after 10 years is 81,550.94 - pretty good rate of interest