Question

Help Pwease! :)
find the accumulated value of an investment of $1600 at 8% compounded quarterly for 2 years.
A=P(1+r/n) ^nt

Answer 1

Alright...so compounded quarterly means 4 times a year...that would be our 'n'
t = 2
P = 1600
r = .08

So

\[\large A = 1600(1 + \frac{.08}{4})^{4 \times 2}\]

Answer 2

okay so you put it in your calculator just like that? I got 1874.66

Answer 3

That's what I got too

Answer 4

Okay, shanks! Your a big help :) God Bless!

Answer 5

Anytime :)