Ask Question
24 February, 06:40

If you invest $1500 in at an interest rate of 7% for 5 years and the interest is compounded quarterly, how much money will you have after the 5 years. Round your answer to the nearest cent.

Not sure if its Interest Compounded k Times per Year formula or Interest Compounded continuously formula

+5
Answers (1)
  1. 24 February, 08:31
    0
    100%+7%=107% 1.07³x1.07²x1500=2103.83
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “If you invest $1500 in at an interest rate of 7% for 5 years and the interest is compounded quarterly, how much money will you have after ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers