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Find the balance in the account after the given period. $500 principal earning 4% compounded quarterly, sfter 6 yr - $1,281.65 - $634.87 - $709.26 - $632.66

Find the balance in the account after the given period. $500 principal earning 4% compounded quarterly, sfter 6 yr - $1,281.65 - $634.87 - $709.26 - $632.66
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3 votes
Find the balance in the account after the given period.

$500 principal earning 4% compounded quarterly, sfter 6 yr
- $1,281.65
- $634.87
- $709.26
- $632.66

asked
User Ezequiel Muns
by
7.9k points

2 Answers

7 votes

Answer:

$634.87

Explanation:

answered
User Slindenau
by
8.4k points
7 votes
A=500×(1+0.04÷4)^(4×6)
A=634.87
answered
User Loufs
by
7.2k points
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