Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. andrew deposited $30,000 in an investment fund tha

Andrew deposited $30,000 in an investment fund that was growing at a rate of 6.00%...

70.2K

Verified Solution

Question

Accounting

image

Andrew deposited $30,000 in an investment fund that was growing at a rate of 6.00% compounded quarterly, for a period of 4 years and 6 months. a. What is the accumulated value of the investment at the end of 4 years and 6 months? $0.00 Round to the nearest cent b. What is the amount of interest earned from this investment? $0.00 Round to the nearest cent

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

An individual has a higher-than-normal blood volume, due to excess fluids—not high enough to cause symptoms,...

Medical Sciences
Q

10 An equilateral triangle of side length 1 is formed from a piece of uniform...

Physics
Q

Last week there were 450 student absences at Jefferson High The circle graph below summarizes...

Basic Math
Q

Put the steps of the Rational Decision Making Model in order Implement the Decision Choose...

Statistics
Q

2 Consider a circle O with radius r How many arcs of length rare equal...

Calculus
Q

Determine if the graph can represent a polynomial function If so assume that the end...

Algebra
Q

Which of the following is not an example of Prepaid expenses? a. Rent b. Insurance...

Accounting
Q

Computing Gross Profit The following data were taken from the accounts of Fluter Hardware, a...

Accounting
Q

create a cover letter for an accounting job. follow proper business formatting. also required to...

Accounting
Q

Exercise 8-7 (Algo) Cash Budget [LO8-8] Garden Depot is a retailer that is preparing its...

Accounting
Q

The company invest $600K per month with return of 12%, compounded semiannually. a)...

Finance
Q

Please post screenshots on the excel work!! Texas Tires...

Accounting