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Suppose that when your friend was​ born, your​ friend's parents deposited ​$9000 in an account paying 6.8​% interest compounded quarterly. What will the account balance be after 14years?
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Suppose that when your friend was​ born, your​ friend's parents deposited ​$9000 in an account paying

6.8​% interest compounded
quarterly. What will the account balance be after
14years?

User Dumi Jay
by
3.4k points

1 Answer

1 vote

Answer: $ 23,132.14

Explanation:

A=P(1+r/n)^nt

A=9000(1+.068/4)^4x14

User Tedi
by
3.5k points
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