If you invest $3,000 in an account where interest is compounded quarterly at 2.5%, how much will be in the account after 18 years? * 5 points $8933.92 $4704.94 $3356.04 $4698.35

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asked Nov 7, 2021 213k views

3 votes

If you invest $3,000 in an account where interest is compounded quarterly at 2.5%, how much will be in the account after 18 years? *

5 points
$8933.92
$4704.94
$3356.04
$4698.35

Mathematics
high-school

Muhammad Bin Yusrat asked

by Muhammad Bin Yusrat

3.3k points

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1 Answer

6 votes

Answer:

$4698.35

Explanation:

18×4 = 72

3000(1 + 0.025/4)⁷²

= 4698.35229

Abdou answered Nov 13, 2021

by Abdou

3.4k points

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