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You deposit $6,700 in a money-market account that pays an annual interest rate of 3.3%. The interest is compounded quarterly. How much money will you have after 4 years?

You deposit $6,700 in a money-market account that pays an annual interest rate of 3.3%. The interest is compounded quarterly. How much money will you have after 4 years?
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You deposit $6,700 in a money-market account that pays an annual interest rate of 3.3%. The interest is compounded quarterly. How much money will you have after 4 years?

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User Roger Willcocks
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1 Answer

3 votes
A=6,700×(1+0.033÷4)^(4×4)
A=7,641.29
answered
User Qvpham
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7.8k points
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