Respuesta :
The money invested is the principal that is $ 1000.
The quarterly interest = 3/4 = 0.75 %
Assuming the number of years the money invested was x, then the interest period (n) will be 4 x (quarters)
Using the formula, A = P (1 + r/100)∧n
Therefore, the growth of the investment will be given by
1000( 1.0075)∧n, where n is the interest period.
The quarterly interest = 3/4 = 0.75 %
Assuming the number of years the money invested was x, then the interest period (n) will be 4 x (quarters)
Using the formula, A = P (1 + r/100)∧n
Therefore, the growth of the investment will be given by
1000( 1.0075)∧n, where n is the interest period.
