Solve these compound interest problems and round your answer to the nearest 100th.

1)Find the final amount for an $1800 investment at 8% interest compounded quarterly for 6 years.

PLEASE SHOW ALL WORK>

$2,895.19

Step-by-step explanation:

You are going to want to use the compound interest formula, which is shown below.

P = initial balance

r = interest rate

n = number of times compounded annually

t = time

First, change 8% into its decimal form:

8% -> -> 0.08

Now lets plug in the values into the equation:

The final amount for this investment is $2,895.19

hey seth! : )

i’m not 100% sure, but i think it’s b

hope this ya : p

miss u!

- nicole