Use the compound interest formula , where P is the original amount of the investment, i is the interest rate per compounded period, n is the total number of compounding periods, and A is the value of the investment after n periods. An investment broker deposits $1400 into an account that earns 4.4% annual interest compounded quarterly.
What is the dollar value of the investment after 7 years? Round to the nearest dollar.
A) $ 4675
B) $ 1902
C) $ 1892
D) $ 1511

Question

Use the compound interest formula  , where P is the original amount of the investment, i is the interest rate per compounded period, n is the total number of compounding periods, and A is the value of the investment after n periods. An investment broker deposits $1400 into an account that earns 4.4% annual interest compounded quarterly.
What is the dollar value of the investment after 7 years? Round to the nearest dollar.
A) $ 4675 
B) $ 1902 
C) $ 1892 
D) $ 1511

Quizplus · Accepted Answer

The Answer of Use the compound interest formula  , where P is the original amount of the investment, i is the interest rate per compounded period, n is the total number of compounding periods, and A is the value of the investment after n periods. An investment broker deposits $1400 into an account that earns 4.4% annual interest compounded quarterly.
What is the dollar value of the investment after 7 years? Round to the nearest dollar.
A) $ 4675 
B) $ 1902 
C) $ 1892 
D) $ 1511

Use the Compound Interest Formula , Where P Is