If you invest 11775.00 at a rate of 7.10 percent annum, compounded quarterly what will the total value of your investment be after 4 years

The total value of the investment will be $15,603.38 after 4 years

Step-by-step explanation:

Compound Interest

It occurs when interest in the next period is earned on the principal sum plus previously accumulated interest.

We'll use the formula:

Where:

A=final amount

P=initial principal balance

r=interest rate

n=number of times interest applied per time period

t=number of time periods elapsed

The investment is P=$11,775 at a rate of r=7.10% = 0.071 compounded quarterly. Since there are 4 quarters in a year, n=4. The investment will last t=4 years, thus:

The total value of the investment will be $15,603.38 after 4 years

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step-by-step explanation:

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