# Compound interest 3

After 8 years, what is the total amount of a compound interest investment of $25,000 at 3% interest, compounded quarterly? (interest is now dream - in the year 2019) Result x = 31752.781 #### Solution: $a = 25000 \ \\ q = 3 \% = \dfrac{ 3 }{ 100 } = 0.03 \ \\ y = 8 \ \\ w = 4 \ \\ q_{ 1 } = 1 + q/w = 1 + 0.03/4 = \dfrac{ 403 }{ 400 } = 1.0075 \ \\ \ \\ n = y \cdot \ w = 8 \cdot \ 4 = 32 \ \\ x = a \cdot \ q_{ 1 }^{ n } = 25000 \cdot \ 1.0075^{ 32 } \doteq 31752.7806 = 31752.781$ Leave us a comment of this math problem and its solution (i.e. if it is still somewhat unclear...): Showing 0 comments: Be the first to comment! #### Following knowledge from mathematics are needed to solve this word math problem: ## Next similar math problems: 1. Shuyen Shuyen wanted to save some money. She deposited Php.300 in a bank which pays 0.5% interest per annum. After nine months, she needed the money to buy some gifts. How much will she be able to get if he withdraws all her money from the bank? 2. Bank Paul put 10000 in the bank for 6 years. Calculate how much you will have in the bank if he not pick earned interest or change deposit conditions. The annual interest rate is 3.5%, and the tax on interest is 10%. 3. Combined interest Combined interest: Carol has deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. The money was put into the account 5.5.2016 and withdraw them all before Christmas 20.12.2016. How much money did she withdraw? 4. Car down Sarah buys a car costing$12,500. It depreciates in value by 8% in the first year, 10% the second year and 5% in the third year. Calculate the value of a car after the third year.
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