Question

suppose that when your fried was born, your friends parents deposited $9000 in qn account playing 3.2% interest compounded quarterly. What will the account balance be after 13 years?

Answer 1

$9000 x 3.2%/Q= $288/Q

13 years = 13*4 Q= 52 Q

=> $288 x 25 Q = $14,976

The account balance be after 13 years is : $ 14,976 + $9,000 = $23,976

Explanation: