Ask Question
20 December, 13:41

Find the final amount of $1000 investment after 9 years at 8% interest compound quarterly

+4
Answers (1)
  1. 20 December, 13:50
    0
    Here's the equation for one year:

    1000 + 0.08 (1000)

    But because it is 9 years:

    1000 + 9 (0.08 (1000))

    1000 + 0.72 (1000)

    We can make it simpler:

    1.72 (1000)

    Multiply:

    1720

    You will have $1720
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Find the final amount of $1000 investment after 9 years at 8% interest compound quarterly ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers