After 6 years, what is the total amount of a compound interest investment of $35,000 at 4% interest, compounded quarterly?

The amount of investment after 6 years is $ 44439.5

Step-by-step explanation:

Given as :

The principal amount = p = $ 35,000

The rate of interest = r = 4 % compounded quarterly

The time period of loan amount = t = 6 years

Let The Amount after 6 years = $ A

So, From compounded method

Amount = Principal ×

Or, A = P ×

Or, A = $ 35000 ×

or, A = $ 35000 ×

Or, A =  $ 35000 × 1.2697

∴ A = $ 44439.5

So, Amount after 6 years = $ A = $ 44439.5

Hence The amount of investment after 6 years is $ 44439.5  Answer

3/5

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