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abbydiaz
abbydiaz abbydiaz
  • 17-01-2017
  • Mathematics
Answered

Suppose $2000 is deposited in an account paying 2.5% interest compounded quarterly. What will the account balance be after 12 years?

Verified Answer :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 17-01-2017

A=p(1+i/m)^mn
A=2000(1+0.025/4)^4*12
A=2,697.2

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