$15,000 is invested at a rate of 8% compounded quarterly. Identify the compound interest function to model the situation. Then find the balance after 10 years.

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asked Jun 16, 2023 83.7k views

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$15,000 is invested at a rate of 8% compounded quarterly. Identify the compound interest function to model the situation. Then find the balance after 10 years.

Mathematics
college

Oleksandr Zolotarov asked

by Oleksandr Zolotarov

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Answer:

A = 15000(1.02)^4t ; $33,120.59

KromviellBlack answered Jun 21, 2023

by KromviellBlack

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