Professor Smith puts $100,000 in a retirement account for 20 years. The account gives an annual interest rate of 4.15%, compounded quaterly.
1. How much is in the account at the end of the 20 years ?
I found : $228353.3276
I use formula : A = P ( 1+ r/m)^mt
2. How much inerest did her hearn on his investement during the 20 years ?
I found : $128353.3237
I use Formula : I = A - P
Please help me,
Thank you,
Best,
God bless you Maths people !
