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You deposit $9,800 in a money-market account that pays an annual interest rate of 5.8%. The interest is compounded quarterly. How much money will you have after 3 years?

You deposit $9,800 in a money-market account that pays an annual interest rate of 5.8%. The interest is compounded quarterly. How much money will you have after 3 years?
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You deposit $9,800 in a money-market account that pays an annual interest rate of 5.8%. The interest is compounded quarterly. How much money will you have after 3 years?

User Rosalie Bruel
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This is how much money you would have after 3 years with 5.8% interest, $16,620.80 
User Pratik Anand
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