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How much money will there be in an account at the end of 10 years if $4000 is deposited at 6% compounded quarterly

How much money will there be in an account at the end of 10 years if $4000 is deposited at 6% compounded quarterly
asked 192k views
5 votes
How much money will there be in an account at the end of 10 years if $4000 is deposited at 6% compounded quarterly

asked
User Amjad Khan
by
8.0k points

1 Answer

5 votes

Answer:

$7,256.07

Explanation:

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

A = 4000(1+.06/4)^(10*4)

answered
User AhmedWas
by
8.0k points
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