Suppose I have $5000 to invest, and I am able to invest it at an...
80.2K
Verified Solution
Link Copied!
Question
Algebra
Suppose I have $5000 to invest, and I am able to invest it at an 8% rate compounded quarterly.Which formula below shows the correct setup for calculating how much money will be in the account after 20 years?I will haveA = 5000e0.08-20dollars.I will haveA = 5000(1+0.08/4)4.20dollars.I will haveA = 5000e0.08-4-20dollars.I will haveA = 5000(1+0.0812)12.20dollars.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
