Question

Using the formula calculate the value of an initial investment of $4,500 after 10 years at 4% interest, compounded quarterly (four times per year).

Answer 1

Answer:

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

  4500 x (1 + (4/100)/4)^(10 x 4)

  4500 x (1.01)^40

  6699.89$

Step-by-step explanation: