Question

What is the value of an investment of $3,500 after 2 years if it earns 1.5% compounded quarterly?

Answer 1

Answer:

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Step-by-step explanation:

We know the formula,

A=P(1+

n

r

)

n.t

Where,

A= total amount

P= principal or amount of money deposited,

r= annual interest rate

n= number of times compounded per year

t= time in years