So if $200 is invested at an interest rate of 5% compounded quarterly, then the amount after 4 years is
Question
Solution 1
To calculate the amount after 4 years with a quarterly compounded interest rate, we can use the formula for compound interest:
A = P (1 + r/n)^(nt)
where:
- A is the amount of money accumulated after n years, including interest.
- P is the principal amount (the initial amount of money).
- r is the Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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