graysonx92
Answered

Arianna invests $6,000 into a brokerage
account which earns 3% per year. In 30 years,
how much will Arianna's investment be worth
if interest is compounded quarterly (4 times a
year)? Round to the nearest dollar.

Answer :

donovanmckay05
$27600

Please mark brainliest

Answer: $14708.14

Step-by-step explanation:

Amount = initial balance(1 + annual rate/periods per year)^(periods per year*years)

A = 6000(1+0.03/4)^4*30

A = 6000(1.0075)^120

A = 6000(2.451)

A = 14708.14

Hope this helps!

Other Questions