Question

To what amount will 10000 accumulate in 6 years if invested at 8% compound quarterly

Answer 1

A = 25633

p = 10000

r = 8%

n = 4n = 4*6 = 24

A = P(1 + r/4/100)^4n

r/4 = 8/4 = 2

A = 10000 * (1+4/100)²⁴

= 10000 * (104/100)²⁴

= 10000 * 2.5633

= 25633