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If you invest $3,000 in an account where interest is compounded quarterly at 2.5%, how much will be in the account after 18 years? * 5 points $8933.92 $4704.94 $3356.04 $4698.35…

If you invest $3,000 in an account where interest is compounded quarterly at 2.5%, how much will be in the account after 18 years? * 5 points $8933.92 $4704.94 $3356.04 $4698.35…
asked 213k views
3 votes
If you invest $3,000 in an account where interest is compounded quarterly at 2.5%, how much will be in the account after 18 years? *

5 points
$8933.92
$4704.94
$3356.04
$4698.35

asked
User Muhammad Bin Yusrat
by
7.9k points

1 Answer

6 votes

Answer:

$4698.35

Explanation:

18×4 = 72

3000(1 + 0.025/4)⁷²

= 4698.35229

answered
User Abdou
by
8.7k points
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