Question

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

Answer 1

C.

$634.87

Explanation:

A=500×(1+0.04÷4)^(4×6)

A=634.87