226k views
1 vote
Lilah deposited $315 into her savings account that is compounded quarterly at an annual rate of 6% how much money will lilah have in her account after 7 years if she makes no additional deposits

show all work please

Please hurry

Thank you in advanced
❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️

User Lethia
by
6.1k points

1 Answer

3 votes

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

A future value ?

P present value 315

R interest rate 0.06

N compounded quarterly 4

T time 7 years

A=315×(1+0.06÷4)^(4×7)

A=477.92

Hope it helps!

User Alexander Battisti
by
5.9k points