Question

suppose you invested 5,000 earning a 5% interest rate compounded quarterly. a) how much would your investment be in 50 years b) when will the investment be worth more than 10,000? c) what if you invested the same amount in an account that paid 5% interest compounded monthly. How much more would your investment be worth after 50 years?

FORMULA: A= P(1+R/N)^nt

Answer 1

\(\huge\color{red}{\bigstar}\color{orange}{\bigstar}\color{yellow}{\bigstar}\color{lightgreen}{\bigstar}\color{green}{\bigstar}\color{turquoise}{\bigstar}\color{royalblue}{\bigstar}\color{purple}{\bigstar}~\color{#00bfff}{\bigstar}\color{#00bfff}{\bigstar}\color{#00bfff}{\bigstar}\color{#11c520}{\bigstar}\color{#11c520}{\bigstar}\color{#11c520}{\bigstar}\\\huge\cal\color{red}W\color{orange}E\color{goldenrod}L\color{yellow}C\color{lightgreen}O\color{darkgreen}M\color{turquoise}E~~\color{royalblue}T\color{purple}O~~\color{#00bfff}{Open}\color{#11c520}{Study}\\\huge\color{red}{\bigstar}\color{orange}{\bigstar}\color{yellow}{\bigstar}\color{lightgreen}{\bigstar}\color{green}{\bigstar}\color{turquoise}{\bigstar}\color{royalblue}{\bigstar}\color{purple}{\bigstar}~\color{#00bfff}{\bigstar}\color{#00bfff}{\bigstar}\color{#00bfff}{\bigstar}\color{#11c520}{\bigstar}\color{#11c520}{\bigstar}\color{#11c520}{\bigstar}\)