$750 are deposited into an account quarterly for six years at an interest rate of 5.3% compound quarterly. how much is in the account at the end of the 6 years?

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asked Jan 17, 2018 167k views

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Brash Equilibrium · Answer 1 · 2018-01-22T02:04:52+0000

A = P (1 + r/n)^nt

P = principal amount
r = rate in decimals
n = number of tim s interest is compounded/year
t = # of years amount is deposited or borrowed for

A = 750 (1 + .053/4)^4(6)

A = $1028.63

$750 are deposited into an account quarterly for six years at an interest rate of 5.3% compound quarterly. how much is in the account at the end of the 6 years?

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