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$15,000 is invested at a rate of 8% compounded quarterly. Identify the compound interest function to model the situation. Then find the balance after 10 years.

$15,000 is invested at a rate of 8% compounded quarterly. Identify the compound interest function to model the situation. Then find the balance after 10 years.
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$15,000 is invested at a rate of 8% compounded quarterly. Identify the compound interest function to model the situation. Then find the balance after 10 years.

asked
User Oleksandr Zolotarov
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8.0k points

1 Answer

5 votes

Answer:

A = 15000(1.02)^4t ; $33,120.59

answered
User KromviellBlack
by
7.7k points
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