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Guided Practice Find the balance in the account. $500 principal earning 4% compounded quarterly, after 6 years. A. $632.66 B. $530.76 C. $634.87

Guided Practice Find the balance in the account. $500 principal earning 4% compounded quarterly, after 6 years. A. $632.66 B. $530.76 C. $634.87
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1 vote
Guided Practice

Find the balance in the account.


$500 principal earning 4% compounded quarterly, after 6 years.


A.
$632.66


B.
$530.76


C.
$634.87

User Mojoken
by
7.3k points

1 Answer

1 vote

Answer:

C.

$634.87

Explanation:

A=500×(1+0.04÷4)^(4×6)

A=634.87

User Farhad Farahi
by
7.9k points
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