Suppose that when your friend was born, your friend's parents deposited $9000 in an account paying 3.6% interest compounded quarterly. What will the account balance be after 13years?
where "n" is the number of compounding periods per year. Total = Principal ( 1 + rate/n) ^ nyears Total = 9,000 (1 + (.036/4))^4 13 Total = 9,000 (1.009)^52 Total = 9,000
