Question: I need help figuring out the total amount accumulated and the interest earned in the following equation using the compound interest formula. $4000 for 5
I need help figuring out the total amount accumulated and the interest earned in the following equation using the compound interest formula.
$4000 for 5 years at 8% compounded quarterly
What would the total amount be accumulated after 5 years $_______
Please round to the nearest cent if needed
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
