lesli27 lesli27

10-05-2022
Mathematics

contestada

Fred invests $3000 at 4.39% compounded quarterly for 4 years. How much interest
will the investment yield?

Respuesta :

jsimpson11000 jsimpson11000

10-05-2022

Answer:

$ 572.46

Step-by-step explanation:

4.39 % = .0439 in decimal form

.0439/4 = periodic interest = .010975

periods = 4 years * 4 /year = 16 periods

value at end 3000 ( 1 + .010975)^16 = 3572.46

now subtract the original 3000 to find the gain

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