You deposit $7,900 in a money-market account that pays an annual interest rate of 4.3%. The interest is compounded quarterly. How much money will you have after 3 years?

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asked Sep 11, 2018 122k views

4 votes

You deposit $7,900 in a money-market account that pays an annual interest rate of 4.3%. The interest is compounded quarterly. How much money will you have after 3 years?

Mathematics
high-school

Bryanjez asked

by Bryanjez

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1 Answer

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A=7,900×(1+0.043÷4)^(4×3)
A=8,981.57

Irshad Ahmad answered Sep 15, 2018

by Irshad Ahmad

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