Question: Need help on this equation. The answer continues to come up wrong even though I thin I followed al operations correctly. Q. Find the amount

Need help on this equation. The answer continues to come up wrong even though I thin I followed al operations correctly.

Q. Find the amount that results from the given investment.

$700 invested at 12% compounded quarterly after a period of 3 years.

I had 700(1+.12/4)^3= 764.90. It stated incorrect.

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 Mathematics Questions!