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Compound Interest If $\$ 500$ is invested at an interest rate of3.75$\%$ per year, compounded quarterly, find the value of theinvestment after the given number of years.$$(a)1 \text { year } \quad \text { (b) } 2 \text { years } \quad \text { (c) } 10$$
a) $\$ 519.02$b) $\$ 538.75$c) $\$ 726.23$
Algebra
Chapter 4
Exponential and Logarithmic Functions
Section 1
Exponential Functions
Campbell University
Idaho State University
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Okay, So Problem 59 is asking us What is the investment gonna be after X amount of years, starting with initial of $5. $500 with the three went 75% interest rate compounded quarterly. So we're gonna divide our industry by four. Meant to me four times t So first, ask this one year. So that's 500. Warned us. Which gets us 519 and two cents. We is after two years. So that's 500 morning class point. He summoned board. So that comes to 538 and 75 cents and see is after 10 years. That's 500 same exact location, not get so 726 then 23 cents.
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