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If $5000 is borrowed at a rate of 5.75% interest per year, compounded quarterly, find the amount due at the end of the given number of years. (Round your answers to the nearest cent.)

years 3

years 5

years 7

 Oct 15, 2020
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5.57%   =  .0575

quarterly interest =  .0575/4 = .014375

 

due at the end of 'n' years would be (put the number of years for 'n' and compute):

         5000 (1 + .014375)4n  

 
 Oct 15, 2020

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