Question

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?

Answer 1

$9986

Explanation:

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

Amount = 830*(1+0.049)^52

Amount = 9986.27