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$7,000 is invested in an account that earns 1.5% annual interest, compounded quarterly. What is the value of the account after 18 years?

$7,000 is invested in an account that earns 1.5% annual interest, compounded quarterly. What is the value of the account after 18 years?
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17 votes
$7,000 is invested in an account that earns 1.5% annual interest, compounded quarterly. What is the value of the account after 18 years?

User Robert Fey
by
7.6k points

1 Answer

7 votes

Answer:

$9,151.38

Hopefully that is correct!!

User MylesK
by
8.7k points
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