After 8 years, what is the total amount of a compound interest investment of $25,000 at 3% interest, compounded quarterly?

$25,377.11

$25,759.92

$26,148.50

$31,752.78

Question

After 8 years, what is the total amount of a compound interest investment of $25,000 at 3% interest, compounded quarterly?

$25,377.11

$25,759.92

$26,148.50

$31,752.78

dontsaymyname · Answer

We can remove options A and B from the list, now what do you think the answer is?

alania · Answer

d

Hoodmemes · Answer

$\color{#0cbb34}{\text{Originally Posted by}}$ @alania
d
$\color{#0cbb34}{\text{End of Quote}}$
Yes thats correct.

dontsaymyname · Answer

Exactly :)

XioGonz · Answer

$\color{#0cbb34}{\text{Originally Posted by}}$ @alania
d
$\color{#0cbb34}{\text{End of Quote}}$
Yes, Correct

alania · Answer

thanks

XxAngelGirlxX · Answer

please close this question when done <3

mxddi3 · Answer

Yeah so since it says to be compounded quarterly, we use the equation  $$A=P_{0}(1+\frac{ r }{ n}) ^nt$$

since it's quarterly, the n is going to be 4. And then the r= 0.03 because we need to turn 3% into a decimal. Then, the t is 8 since it says after 8 years. When doing so, yes, we get d. Good job. Remember to close the post (: