baileykm522 baileykm522

06-09-2018
Mathematics

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An investment of 7650 earns interest at the rate of 5% and is compound quarterly what is the accumulated value of the investment at the end of 9 years

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sqdancefan sqdancefan

06-09-2018

The value of the investment is multiplied by (1+.05/4) = 1.0125 each quarter. After 36 quarters, the value is 1.0125³⁶ ≈ 1.563944 times its original value.

$7650×1.563944 ≈ $11,964.17 . . . . value after 9 years

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