you put 500 in an interest bearing account with an annual interest rate of 8 compounded quarterl

Name: you put 500 in an interest bearing account with an annual interest rate of 8 compounded quarterly how much money will be in the account after 25 years give your answer in dollars rounded to 14578
Uploaded: 2023-07-31T21:31:54-08:00
Duration: 1 min 19 s
Channel: Kathleen Carty
Description: you put 500 in an interest bearing account with an annual interest rate of 8 compounded quarterly how much money will be in the account after 25 years give your answer in dollars rounded to 14578

Question

Aman Gupta · Accepted Answer

First, we need to determine the number of compounding periods in 2.5 years. Since interest is co

Question

You put $500 in an interest bearing account with an annual interest rate of 8% compounded quarterly. How much money will be in the account after 2.5 years? Give your answer in dollars rounded to the nearest penny.

Please give Ace some feedback