Use the Compound Amount Formula $A = P \left( 1 + \frac { r } { n } \right) ^ { \mathrm { nt } }$

question 45

Multiple Choice

Use the compound amount formula $A = P \left( 1 + \frac { r } { n } \right) ^ { \mathrm { nt } }$ to find the accumulated amount on an investment of $\$ 2000$ , invested at an interest rate of $6 \%$ for 10 years, if the interest is compounded quarterly.

• A)$3,628.04
• B)$20,300.00
• C)$16,543.61
• D)$3,612.22

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