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Help 12

NotSoSmart  Nov 20, 2018
 #1
avatar+92787 
+1

10% of 36000 =  $3600

 

So....we are investing $3600 at 6.25% compounded quarterly for 15 years

 

[ Quarterly is 4 times per year....so....  n = 4 ]

 

So we have

 

3600 * ( 1 + .0625 / 4 )^(4 * 15)   =  $ 9126.53

 

 

cool cool cool

CPhill  Nov 20, 2018

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