Use the formula for computing future value using compound interest to determine the value of an account at the end of 5

Question

time=5 years principle 16000 intrest rate 6% Componded quarterly The amount after 5 years will be ​$___________________round to the nearest cent

Answer 1

me thank yu tri tu sae:

yu borro 16,000$ at 6% for 5 yeers & the interest kompound evree quarter

quarter kompound...yu oe 21,549.68$ after 5 yeers

if yeer kompound, yu oe 21,411.61$

month kompound...21,581.60$