Question

you deposit $3000 into an account that pays 8% compounded quarterly. how much will you have in 10 years?

Answer 1

$5400 USD

Explanation:

Investment=3,000

Interest=8% = .08

Time=10 years

([3000 x .08 x 10] + 3,000

[240 x 10] + 3,000

2,400 + 3,000= 5,400