Question

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

Answer 1

$4698.35

Explanation:

18×4 = 72

3000(1 + 0.025/4)⁷²

= 4698.35229