Find the final amount. $1000 invested at 6% APR compounded quarterly for 3 years

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ndavis69 ndavis69

15-03-2020
Mathematics

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Find the final amount. $1000 invested at 6% APR compounded quarterly for 3 years

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thomassookoo thomassookoo · Answer 1 · 2020-03-15T01:49:44+01:00

thomassookoo thomassookoo

15-03-2020

Step-by-step explanation:

Total Price=SI+Priciple

SI=P×R×T

P=$1000

R=6%

T=3yrs

SI= 1000×0.06×3yrs

=$180

Total Price= Priciple + SI

=$1000 + $180

=$1180

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Officialalehpeter Officialalehpeter · Answer 2 · 2020-03-15T02:43:08+01:00

Officialalehpeter Officialalehpeter

15-03-2020

Answer:

$1180

Step-by-step explanation:

Simple interest=p×t×r/100

P=$1000

T=3 years

R=6%

1000×3×6/100

S.I=18000/100

S.I=180

Therefore the S.I=$180

The total price=capital+interest

1000+180=1180

Therefore the total price=$1180

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Find the final amount. ​$1000 invested at 6​% APR compounded quarterly for 3 years

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Find the final amount. $1000 invested at 6% APR compounded quarterly for 3 years