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You deposit $4200 in a savings account that has a rate of 4%. The interest is compounded quarterly a) How much money will you have after ten years? Round to the nearest cent. b) Find the interest after
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You deposit $4200 in a savings account that has a rate of 4%. The interest is compounded

quarterly

a) How much money will you have after ten years? Round to the nearest cent.

b) Find the interest after ten years.

User Charlette
by
5.1k points

1 Answer

7 votes

Answer:

a) 6253.23

b) 2053.23

Explanation:

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

User Eugene Nagorny
by
5.3k points
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