Answer:
The future value of investment at 6 % compounded quarterly is $ 4782.472
Step-by-step explanation:
Given as :
The principal amount = $ 4000
The rate of interest compounded quarterly = 6 %
The time period = 3 years
Let The future amount = A
From Compounded method
Amount = Principal × [tex](1+\dfrac{\textrm rate}{4\times 100})^{4\times \textrm time}[/tex]
Or, Amount = 4000 × [tex](1+\dfrac{\textrm 6}{4\times 100})^{4\times \textrm 3}[/tex]
Or, Amount = 4000 × [tex](1.015)^{12}[/tex]
Or, Amount = 4000 × 1.195618
∴ Amount = $ 4782.472
Hence The future value of investment at 6 % compounded quarterly is $ 4782.472 Answer
