# Thread: help me out

1. ## help me out

You invest £6,870 in an account that offers a fixed nominal rate of 4.88% compounded quaterly if you invest this principal for 6 years, how much will you have in the account at the end of the investment period.

give answer in 2 decimal places

Can someone please help me with this question?? thank you

2. Hello, pitt!

You invest £6,870 in an account that offers a fixed rate of 4.88% compounded quarterly.
If you invest this principal for 6 years, how much will you have in the account
at the end of the investment period? Give answer in 2 decimal places.
You don't know the Compound Interest formula?

. . $A \;=\;6870\left(1 + \frac{0.0488}{4}\right)^{24}$ . . . . crank it out . . .