If $1000 is invested at an interest rate of 3.75% per year, compounded quarterly, find the value of the investment after the given number of years.
+118723 If $1000 is invested at an interest rate of 3.75% per year, compounded quarterly, find the value of the investment after the given number of years.
i=0.0375/4=0.009375
n years, 4n time periods,
FV=1000(1.009375)4n
FV stands for future value and n stands for number of years.
+118723 If $1000 is invested at an interest rate of 3.75% per year, compounded quarterly, find the value of the investment after the given number of years.
i=0.0375/4=0.009375
n years, 4n time periods,
FV=1000(1.009375)4n
FV stands for future value and n stands for number of years.
