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Using the formula A=P(1+r/n) ^nt calculate the value of an initial investment of $4,500 after 10 years at 4% interest, compounded quarterly (four times per year).

Respuesta :

ronhagrid310

Answer:

Using the formula provided, the value of that investment after 10 years is

A = P(1 + r/n) ^nt

   = 4500 x (1 + (4/100)/4)^(10 x 4)

   = 4500 x (1.01)^40

   = 6699.89$

Hope this helps!

:)

The value of that investment after 10 years is $6699.89

Important information:

  • an initial investment of $4,500 after 10 years at 4% interest, compounded quarterly

calculation:

[tex]A = P(1 + r/n) ^{nt}\\\\= 4500 \times (1 + (4/100)/4)^(10 \times 4)\\\\= 4500 \times (1.01)^{40}[/tex]

= 6699.89

learn more about the investment here: https://brainly.com/question/24002393

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