Question

find the maturity value and interest if 50,000 is deposited in a bank at 3% compounded quarterly for 6 years.​

Answer 1

Answer:

quarterly?

Formulas where n = 1 (compounded once per period or unit t)

Calculate Accrued Amount (Principal + Interest) A = P(1 + r)t

Calculate Principal Amount, solve for P. P = A / (1 + r)t

Calculate rate of interest in decimal, solve for r. r = (A/P)1/t - 1.

Calculate rate of interest in percent. ...

Calculate time, solve for t.

Step-by-step explanation:

follow mw

Answer 2

Answer:

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