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

1 Answer

6 votes

Answer:

$4698.35

Explanation:

18×4 = 72

3000(1 + 0.025/4)⁷²

= 4698.35229

User Abdou
by
8.7k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.