You invest an initial 100 in an account that has an annus! intecest rate of 3% compounded quarterly. How much money will ypu have in the account after 20 years?
The formula is A=p (1+r/k)^kn A future value? P present value 100 R interest rate 0.03 K compounded quarterly 4 N time 20 years A=100×(1+0.03÷4)^(4×20) A=181.80
