audreycooper57 audreycooper57

15-08-2017
Mathematics

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$14900 is invested at 2.7% interest compounded quarterly, how much will the investment be worth in 17 years?

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Aliwohaish12 Aliwohaish12

15-08-2017

The formula is
A=p (1+r/k)^kt
A future value?
P present value 14900
R interest rate 0.027
K compounded quarterly 4
T time 17 years
A=14,900×(1+0.027÷4)^(4×17)
A=23,542.78

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camohunter2002 camohunter2002

14-04-2020

Answer: C 23,542.78

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