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16 July, 03:31

How do I calculate accumulated interest, given that it's compounded quarterly, for 20 years, with a principal amount of $462,446.95, and an interest rate of 8.4% annually?

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  1. 16 July, 06:53
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    Accumulated interest

    = 1,976,044.78

    Step-by-step explanation:

    A = P (1+r/n) ^nt

    = 462446.95 (1+.084/4) ^4x20

    = 2,438,491.73
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