Question: I need a correct answer please as soon as possible. Find the total amount a college student has in a savings account if $8,000 was

I need a correct answer please as soon as possible.

Find the total amount a college student has in a savings account if $8,000 was invested and earned 5% compounded quarterly for 8 years. Use A=P(1+nr)nt The amount after 8 years will be $ (Do not round until the final answer. Then round to the nearest cent as needed.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Find the total amount a college student has in a savings account if $2,000 was invested and earned 4% compounded quarterly for 9 years. Use A = P 1+-The amount after 9 years will be $(Do not round...

Directions for Problem #4 in Excel The goal of this problem is to have you: Use Excel to generate the future value of each of the various investments made over the course of the 25 years. Use Excel...

P11 rest to follow, thanks. If possible, due within 72 hours. Practical 11 - step by step please 1. A R1 000 is deposited inh a bank in May and withdrawn in October the same year. Find the future...

Math 1172 Project #2 Financial Applications of Geometric Series Due: Tuesday, October 11 Name(s): - - - - - - - - - - - - - - - - - - - - Description - - - - - - - - - - - - - - - - - - - Most people...

Practical 11 - step by step please 1. A R1 000 is deposited inh a bank in May and withdrawn in October the same year. Find the future value if the interest rate is 10% simple interest. 2.. An amount...

LEARNING COMPETENCIES After studying this module, you will be able to do the following: Find the amount of simple and compound interest; Ascertain exact, ordinary interest, maturity value, and simple...

I need help with these few questions. Each screenshot has the page number along with the number for each Question i need answered. Please include the number of page and question number in the answers...

I need help with these business mathematics questions. I have provided each page number and what questions need answered on each screenshot. Please write the page number and what question the answer...

Should DeWolfe and Anderson have given up so much equity (66%) in the beginning to eUniverse? Was there an alternative strategy available?

Explain Shadow Paging Technique.

What does the 1 0 - 2 Treasury Yield Spread measure? The difference between the 1 0 - year and 2 - year U . S . Treasury bond interest rates. The difference between the Federal Reserve's interest...

If the following join statement is used to join two tables in a query, which of the following tables would all of the tuples in the relation appear in results? left join university.students on...