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If $2400 is invested at 4.3% annual interest, compounded quarterly, the amount in the account after 6 years is

2400(1+0.0434)24

Calculate this amount.

 Jan 5, 2017
 #1
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Learn to write your formula accurately as follows:

 

Instead of this that you wrote down:

2400(1+0.0434)24

It should look like this:

2,400[1 + 0.43/4]^(6*4)

2,400[1 + 0.01075]^24

2,400 x 1.01075^24

2,400 x 1.292558

=$3,102.14

 Jan 5, 2017

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