+129850 I think you are computing this based on 2.7% interest being compounded quarterly for 17 years....the "formula" should be :
14900(1+0.027/4)^(4*17) =
14900 (1 + .00675)^(68) = about $23542.78
$14,900 is invested at 2.7% intrest compounded quarterly, how mutch will it be in 17 years?
use this formula.
a=p(1+r/n)^nt
P = principal amount (the initial amount you borrow or deposit)
r = annual rate of interest (as a decimal)
t = number of years the amount is deposited or borrowed for.
A = amount of money accumulated after n years, including interest.
n = number of times the interest is compounded per year
14900(1+0.027/4)^(4*17) =
14900 (1 + .00675)^(68) = about $23542.78
