After 6 years, what is the total amount of a compound interest investment of $35,000 at 4% interest, compound quarterly?

Round to the nearest cent.

Question

Abigayle Cherry

8 May, 06:25

+5

Answers (2)

Know the Answer?

Isiah · Answer 1

A=P (1+r/100) ^6

A=35000 (1+1/100) ^4*6

A=$44440.7127

A=$44441

Camryn Vaughn · Answer 2

1.06^6 * 35000 = $49648.20

1.06 is the mutiplier.

After 6 years, what is the total amount of a compound interest investment of $35,000 at 4% interest, compound quarterly?Round to the nearest cent.