What will an investment of 45 000 euros amount to after 28 months if it earns 7.5% p.a. compounded quarterly?
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28 months = 2 yrs 4 months = 2 1/3 years
The formula would be A = 45 000 (1 + 0.075/4) ^ (4 • 2 1/3) since quarterly is 4 times a year
which according to the google calculator is 53 519.2867
The formula would be A = 45 000 (1 + 0.075/4) ^ (4 • 2 1/3) since quarterly is 4 times a year
which according to the google calculator is 53 519.2867