Problema Solution
I want to invest some money, for my college education.
If I invest $1375, and leave it alone for 4 years, at 4.25% return, compounded semi-annually......how much will I have in four years?
Answer provided by our tutors
If I invest $1375, and leave it alone for 4 years, at 4.25% return, compounded semi-annually......how much will I have in four years?
A=P*(1+r/q)^nq.
=1375*(1+0.0425/2)^4*2.
=1375*1.02125^8.
=$1626.90.