Question and answer
How much interest would you earn if you had $500,000 at 6% compounded interest quarterly for 5 years?
500000 * (1 + 0.06/4)^(5*4) - 500000 = 173427.503275 ~= $173,428. You would earn about $173,428 if you have $500,000 at 6% compounded interest quartely for 5 years.
Expert answered|eturker|Points 2622|
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Asked 9/27/2012 11:24:41 AM
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