Ask Question
12 February, 14:52

If you invest $1500 in at an interest rate of 7% for 5 years and the interest is compounded quarterly, how much money will you have after the 5 years. Round your answer to the nearest cent.

Not sure if its Interest Compounded k Times per Year formula or Interest Compounded continuously formula

+4
Answers (1)
  1. 12 February, 18:10
    0
    100%+7%=107% 1.07³x1.07²x1500=2103.83
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “If you invest $1500 in at an interest rate of 7% for 5 years and the interest is compounded quarterly, how much money will you have after ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers