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Home » Area: \( 12 \times 16 = 192 \) square cm - Esdistancia

Area: \( 12 \times 16 = 192 \) square cm - Esdistancia

📅 March 17, 2026 👤 scraface

Mar 17, 2026

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📌 #### 4:45 PM

📌 An investment of $5,000 earns 6% annual interest compounded quarterly. What will be the amount after 3 years?

📌 First, determine the quarterly interest rate and the number of quarters:

📌 Quarterly rate = \( \frac{6}{4} = 1.5\% = 0.015 \)

📌 Number of quarters = \( 3 \times 4 = 12 \)

📌 \[ A = 5000 \times (1 + 0.015)^{12} \]

📌 \[ A \approx 5000 \times 1.195618 \]

📌 \[ A \approx 5978.09 \]

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