please help?

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Calculate the return (A) if the bank compounds quarterly (n=4). Round your answer to the hundredth’s place.
=20,000(1+0.08/4)^4•3

2007-01-26 04:19:34 · 3 answers · asked by little_red_bit 1 in Science & Mathematics ➔ Mathematics

If compounded quarterly (1+x)^4=1.08 If 8% is the yearly rate.

so 1+x= 1.0194 so your amount after 1 quarter would be

20.000*1.0194=20,388.53

2007-01-26 07:39:02 · answer #1 · answered by santmann2002 7 · 0⤊ 0⤋

25364.83

2007-01-26 12:27:12 · answer #2 · answered by bruinfan 7 · 0⤊ 0⤋

21777.636

2007-01-26 12:25:09 · answer #3 · answered by Laura S 1 · 0⤊ 0⤋