rates and finance - compound interest (1 Viewer)

[gouge.away]

"$1000 is invested at 8% p.a, compounded quarterly for 5 years"

i know that this means that interest is compounded every three months, but how do i rework the formula accordingly?

thanks

 

[Timothy.Siu]

theres a formula? i always thought u had to derive it.

well if u have some formula, just take the interest as 2% and have 20 "terms"

 

[gouge.away]

hey it worked. thanks