Larry puts $4250 in an account for 8 years, compounded quarterly, at 4.5% interest (APR). How much will he have at the end?

Answers

Answer:

6,079.42

Step-by-step explanation:

FV = P (1 + r / n)^Yn

P is the starting principal, r is the annual interest rate, Y is the number of years invested, and n is the number of compounding periods per year. FV is the future value, meaning the amount the principal grows to after Y years.

Answer:6,079.42

Step-by-step explanation:FV = P (1 + r / n)^Yn

P is the starting principal, r is the annual interest rate, Y is the number of years invested, and n is the number of compounding periods per year. FV is the future value, meaning the amount the principal grows to after Y years.