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1. If you deposit $9200 into an account paying 7% annual interest compounded quarterly, how much money will be in the account after 10 years? a A) $20,123.85 B) $ 8,549.75 C) $18,414.70 D) $10,487.20
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1 vote
1. If you deposit $9200 into an account paying 7% annual interest

compounded quarterly, how much money will be in the account after 10 years? a
A) $20,123.85
B) $ 8,549.75
C) $18,414.70
D) $10,487.20

User Rickdmer
by
7.2k points

1 Answer

6 votes

Answer:

C) $18,414.70

Explanation:


A = 9,200 (1 +(0.07)/(4)) ^(4 x 10)

= $18, 414.70

User Alex Barroso
by
7.0k points
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