Answer:
. P= ___40,000 ( Principal
investment amount )
2. r= ___5% =0.05(decimal)
(The Annual Interest )
3. i= ___r/k 4 ( quarters in a
year / quarterly )
Percentage Rate
Per Interest Period
4. n= ___6 YEARS (kt)
Number Of Interest
Periods
B. Find the compound amount.
Solution:
P= A / ( 1+r/k )^kt
= 40,000 / ( 1+0.05 ) ^ (4)(6)
= 40,000 / ( 1.0125 )^24
= 40,000 /(1.3473510504143)
= 29,687.882744219
Answer: P = 29,687.88
Step-by-step explanation:
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