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31-10-2022
Mathematics

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$8000 accumulating to $11672.12 compounded quarterly for 8 years

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ZarriahM375040 ZarriahM375040

31-10-2022

The formula for compounded interest is;

[tex]A=P(1+\frac{r}{n})^{nt}[/tex]

Where;

A = Final amount

P = Principal

r = rate

n = number of times the interest is compounded per time

t = time

Making r the subject of formula we have;

[tex]undefined[/tex]

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