If $360 is invested at an interest rate of 4% per year and is compounded quarterly, how much will the investment be worth in 18 years?

Question

undeadknight26 · Answer

lets make a function
f(x) = 360(1.4)^x

undeadknight26 · Answer

@demonguy would this be a reasonable equation?

undeadknight26 · Answer

if this is a reasonable equation all we would need to do it 1.4 x 1.4 x 1.4 x 1.4 x 1.4 etc

anonymous · Answer

ok then what do we do?

undeadknight26 · Answer

then multiply that result by the 360 to get your answer.

anonymous · Answer

or we can do this 4% is 0.04 x 360=14.1 that is the interest rate each year

undeadknight26 · Answer

ok that too :D

anonymous · Answer

i got 175.86? is that right?

anonymous · Answer

14.1x18= 259.2   360+259.2= 619.2 that is what i get :)

undeadknight26 · Answer

let me try it through my equation one second...

anonymous · Answer

okay :)

undeadknight26 · Answer

its not mine lol mine equals...153676.387516

anonymous · Answer

that is so much money
lol

anonymous · Answer

ok i put demon guys answer and i got it wrong..

anonymous · Answer

what answers do u have

anonymous · Answer

$175.86

 $422.39

 $430.61

 $736.96

undeadknight26 · Answer

If this is exponential functions mine is correct no matter how unusual it sounds...

undeadknight26 · Answer

undeadknight26 · Answer

in advance it was the last one.

anonymous · Answer

well u got your answer sorry for give u a wrong one:(