khameleonjr10
contestada

A deposit of $12,000 is made into a savings account which earns 4 3 5 % interest compounded quarterly. If no additional deposits or withdrawals are made, which amount is the total balance at the end of 3 years? A) $13,733.34 B) $13,754.19 C) $13,764.86 D) $13,772.07

Respuesta :

mathmate
Not clear what 4 3 5 % means.
It 4.35%, 4.53% all give incorrect answers.
However, with 4.6%, the answer is
F=12000(1+0.046/4)^12=13764.863$
=13764.86 (to the nearest cent)

Please double check the question and if it is not 4.6%, please post comment or post new question.  Thank you.

Otras preguntas