Final answer:
To determine how much will be in a savings account after 11 years with quarterly deposits, we can use the formula for compound interest. Assuming an annual interest rate of 5% and a quarterly deposit of $500, the final amount is approximately $17,250.65.
Step-by-step explanation:
To determine how much will be in a savings account after 11 years with quarterly deposits, we need to use the formula for compound interest. The formula is:
A = P(1 + r/n)^(nt)
Where A is the final amount, P is the principal or initial deposit, r is the annual interest rate (as a decimal), n is the number of times interest is compounded per year, and t is the number of years. In this case, we assume that the quarterly deposits have the same interest rate as the initial deposit. Since the answer options are not provided, we can calculate the value using different rates. Assuming an annual interest rate of 5% and a quarterly deposit of $500, we can substitute the values into the formula:
A = $500(1 + 0.05/4)^(4*11)
This calculation gives us a final amount of approximately $17,250.65. Therefore, the answer is B. $17,250.65.