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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asked Jan 22, 2022 10.2k views

4 votes

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

Tamla asked

by Tamla

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2 Answers

3 votes

Answer:

3276

Explanation:

4000(6.3*13)÷100

Mandy answered Jan 24, 2022

by Mandy

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Answer:

$9015.20

Explanation:

A = 4000[1 + (.063/4)]^13·4

Cobby answered Jan 26, 2022

by Cobby

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