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13-06-2020
Mathematics

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find the compound amount of 16100 for 4 years and 6 months and 10% compounded quarterly

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valerieulbrich valerieulbrich

13-06-2020

Answer:

25110.51

Step-by-step explanation:

A = P(1 + r/n)^(nt)

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

A = 16100(1+.1/4)^(4*4.5) = 25110.51

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