341,493 views
27 votes
27 votes
Elijah invested $ 830 in an account paying an interest rate of 4.9% compounded quarterly. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 13 years?

User Latrell
by
2.5k points

1 Answer

10 votes
10 votes

Answer:

$9986

Explanation:

You got 13*4=52 quarters in 13 years.

Amount = 830*(1+0.049)^52

Amount = 9986.27

User Ludwigmace
by
2.8k points