Question: Perform the indicated operations. If $2500 is invested at 2.1% interest, compounded quarterly, the amount in the account after 6 years is 2500(1 + 0.021/4)
Perform the indicated operations.
If $2500 is invested at 2.1% interest, compounded quarterly, the amount in the account after 6 years is 2500(1 + 0.021/4)24. Round the answer to the nearest penny.
Step by Step Solution
3.34 Rating (166 Votes )
There are 3 Steps involved in it
Using the given formula we can calculate the amount in the acco... View full answer
Get step-by-step solutions from verified subject matter experts
