If 5000 is invested at 925 find the amount compounded quarte

If $50,00 is invested at 9.25%, find the amount compounded quarterly for 14 years.

Solution

Here we have to use the following formula

A=p(1+(r/n)) ^{n t}

here P=$50000

r=9.25%=.0925

t=14 yrs

n=4

A=50000(1+(.0925/4))^4*14

A= 50000(1.023125)⁵⁶

A=$179877.6