If you invest $700 in a bond that pays 6% yearly interest rate compounded quarterly, how much total money will you have after 8 years?

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Guest Oct 20, 2014

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If you invest $700 in a bond that pays 6% yearly interest rate compounded quarterly, how much total money will you have after 8 years?

$$\\FV= 700(1+0.06/4)^{(8*4)}\\\\
FV= 700(1+0.015)^{32}\\\\
FV= 700(1.015)^{32}\\\\$$

You can finish it. :)

Melody Oct 21, 2014

Melody · Answer 1 · 2014-10-21T07:10:04

If you invest $700 in a bond that pays 6% yearly interest rate compounded quarterly, how much total money will you have after 8 years?

$$\\FV= 700(1+0.06/4)^{(8*4)}\\\\
FV= 700(1+0.015)^{32}\\\\
FV= 700(1.015)^{32}\\\\$$

You can finish it. :)