If $300 is invested at a rate of 5% per year and is compounded quarterly, how much will the investment be worth in 20 years?

Use the compound interest formula A equals P times the quantity 1 plus r divided by n end quantity raised to the power of n times t..

$810.45
$515.28
$384.61
$109.67

The "rule of 72" tells you the account value will approximately double in a number of years equal to 72 divided by the interest rate percentage: 72/5 = 14.4 years. After 20 years, it will be worth more than that doubled amount, $600. This only leaves one reasonable answer choice.

<95141404393>

If $300 is invested at a rate of 5% per year and is compounded quarterly, how much will the investment be worth in 20 years? Use the compound interest formula A equals P times the quantity 1 plus r divided by n end quantity raised to the power of n times t.. $810.45 $515.28 $384.61 $109.67

Answer :

Compound interest

Other Questions

If $300 is invested at a rate of 5% per year and is compounded quarterly, how much will the investment be worth in 20 years?

Use the compound interest formula A equals P times the quantity 1 plus r divided by n end quantity raised to the power of n times t..

$810.45
$515.28
$384.61
$109.67