Question

If you invest $5,000 at 1.8 percent for 5 years, compounded quarterly, what is the amount in the account at the end of 5 years?

Answer 1

whats the answers?

Answer 2

I=prt
I is interest
I is equal to p(principle- base amount) times r(rate) times t(time)

Answer 3

No - that is simple interest

Answer 4

compound interest is

A = P(1 + (r/n))^nt

Answer 5

where P = principle(starting amount), r = annual rate (as a decimal), n = number of times paid per year and t = time in years