Suppose that when your friend was born, your friend's parents deposited $4000 in an account paying 6.3% interest compounded quarterly. What will the account balance be after 13 years

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Xi asked Feb 21, 2022

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Suppose that when your friend was born, your friend's parents deposited $4000 in an account paying 6.3% interest compounded quarterly. What will the account balance be after 13 years

Mathematics
high-school

Xi asked Feb 21, 2022

by Xi

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19 votes

Answer:

3276

Explanation:

4000(6.3*13)÷100

Chris Marie answered Feb 23, 2022

by Chris Marie

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13 votes

Answer:

$9015.20

Explanation:

A = 4000[1 + (.063/4)]^13·4

Sebastian Gray answered Feb 25, 2022

by Sebastian Gray

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